For web developers, especially in this almost-but-not-quite-post-IE6 age of universal 24-bit PNG acceptance, the one thing you’re likely to do more than any other, at least in regards to Photoshop, is to extract and save images with transparent backgrounds (AKA alpha channels). Whether you’re using GIF or PNG, there are several ways to do it, and several common issues you might have to deal with.
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