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'''MP3''' (short for '''MPEG-1 Audio Layer 3''') is a set of audio decoding and encoding algorithms created by Fraunhofer IIS in Germany, which can achieve high compression ratio with little loss in audio quality.
'''MP3''' (short for '''MPEG-1 Audio Layer 3''') is a set of audio decoding and encoding [[algorithm]]s created by Fraunhofer IIS in Germany, which can achieve high compression ratio with little loss in audio quality.
Although newer codecs can offer higher compression ratio or higher audio quality for a given ratio, MP3 has remained popular due to its near-universal compatibility.
Although newer codecs can offer higher compression ratio or higher audio quality for a given ratio, MP3 has remained popular due to its near-universal compatibility.