Is there any disadvantage of using pngquant for my PNGs on websites (except losing some colors)

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I have been using pngoo(pngquant) for most of my website projects during last two years since the size is drastically lower in comparison to traditional PNGs and the loss of color is mostly hardly noticeable even for trained eye.

However, are there any disadvantages of compressing PNGs by this algorhitm? Are those PNGs also progressive?

Are they slower/same speed/faster to render for browser?

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