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Key frames are images that defined the states of an animation.
The images created between this key image are created with a process called inbetween or tweening.
Keyframes are specific frames in the animation that have specific target values.
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Example
In scaling a shape up and back down over 10 frames, we will want to start and end at 100% scale at the 0th and 10th frame, and hit our max scale of 150% on the 7th frame.
In this example, our key frames for the SCALE transform for this shape would be [0, 7, 10] with the values [100%, 150%, 100% respectively