What types of codecs are there?
There are two broad categories of codecs: Lossy Codec: A lossy codec is one that discards certain portions of the signal in order to achieve a smaller file size; for example, mp3 codecs attempt to identify and remove portions of the signal that would not result in a perceived loss of quality of the sound to make the file smaller. These losses are sometimes noticeable and sometimes not. The more aggressive the compression setting chosen, the more data is removed. This can result in digital artifacts, which are audible errors created by the compression. Lossless Codec: A lossless codec is one that achieves smaller file sizes through means other than removing data. This can include using a variable bit rate which would use fewer bits to encode silences as compared to an active section of music. Some codecs may be configured to be either lossy or lossless.
