The FourCC:8BPS is a code that applications use in the multimedia applications. This which tells it what codec it is or format. As explained on this website. The FourCC is a four-byte code that is used to identify data formats.
FourCC : 8BPS
This specific data format is to tell the multimedia software that this is a layered picture. The picture uses 8 bits per channel and that it is a Photoshop format. Hence the 8B being the 8 bits per channel and the PS being PhotoShop. You will also note that when you see “8BPS” in the context of digital image processing, it is often referring to a file that contains an image or other data that has been saved using the Adobe Photoshop software.
Much like other formats there are at times also two versions for a format. The FourCC : 3IV1 as well as the FourCC : 3IV2 is a good example of a video codecs where there is a version 1 as well as a version 2.
The 8 bits per channel means that each color channel is represented by 8 bits. This, or a total of 24 bits per pixel (8 bits each for red, green, and blue). With 8 bits per channel, each channel can represent 256 different levels of intensity (2 to the power of 8), from 0 (no intensity) to 255 (maximum intensity). This means that a total of 16.7 million colors can be represented. Finally this in an image with the size of (256 x 256 x 256). On an interesting note see also the compare Jpeg 2000 vs Jpeg article.