Webfonts are fonts that don't come installed on the user's computer. Rather, they're downloaded by the browser on demand to view the desired webpage text. The only setback of using of webfonts is the inevitable load time it adds to render the page. If a browser fails to render a certain website text, it will have to use a font from a list of web safe fonts, which wasn't the original font used by the web designer. The Font Formats are:
TrueType Fonts (TTF) - simply put, TTF are the most commonly used fonts for most systems, encompassing all the well-known types such as times new roman, arial etc.
OpenType Fonts (OTF) - Their main feature is being scalable according to text size.
The Web Open Font Format (WOFF) - Its Default use is reserved for webpages. It was released in 2009 and now being included in the W3c guidelines. It's built to support font distribution from a server to a client over a network with bandwidth constraints.
The Web Open Font Format (WOFF 2.0) - TrueType/OpenType font with a better compression ration than WOFF 1.0.
SVG Fonts/Shapes - render glyphs when displaying text.
Embedded OpenType Fonts (EOT) -OpenType fonts in a compacted format that can be embedded on web pages.