Is it Possible to generate thumbnails based on original file type ?
If I upload Gif file and generated thumbnails will be Gif to instead of jpeg.
Yes, thumbnails are generated for GIF and PNG files. I just tried with a GIF and PNG file that have transparent backgrounds.
There is one bug, the thumbnails are saved with the wrong file extension. They all get saved as .jpg. The transparency in the thumbnail works as expected, so the file format is correct.
If you go into the files directory and find the thumbnail file, you can change the extension to the proper format and it still works as expected.
There is an issue for this on GitHub.
"Thumbnails have the wrong file type #2556"