Yes, you would have to read the source code. My guess reading the README.md is that due to the dependencies in the README.md its a JPEG competitor that is fast

Yes, you would have to read the source code. My guess reading the README.md is that due to the dependencies in the README.md its a JPEG competitor that is fast due to HEVC. The README.md even says this is still experimental. This project really looks too immature to be posted on HN without a technical breakdown. (This is not to disparage the software but for people to remain interested there would have to be at least some benchmark and it would be nice with a visual comparison).