Very much so. ICO是一个容器,同时持有数平方位图(16、32、48、64、128和256 px),以便视窗和浏览器能够选择所需的大小. That determines both the headroom available and whether the saving costs you anything in fidelity.
Is there anything specific to ICO I should know before compressing?
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Yes — ICO 是一堆平方位图, 不是一个图像, 所以操作会应用到堆叠, 视窗仍然会选择它想要的大小. It is worth knowing before you overwrite an original you might need again.