I know that is was created in the 90s in response to Compuserve's demand to charge websites for GIF usage, but is it open source?
I don't see any license, programs can be open source formats have slightly different details. There is a libpng library. see this page. http://www.libpng.org/pub/png/
I don't know whether it's opensource or not, but it was created to displace .gif ( like divisive already said ) because you have to license it for commercial use. The developers aim was a fusion of .jpg and .gif, lossless and with an alphachannel. ~
.Gif was owned by CompuServe back in the day, but everyone was able to use it every which way. I think PNG can be used in the same fashion. It is a interesting question. I wonder if Adobe had to pay for it to be integrated so very well in Fireworks?
we have 2 type of .PNG extension 1st is FLAT PNG or WEB PNG that (usable for web) 2nd is Fireworks PNG its a great format for keep project source