JPEG 2000: Wavelet-Based Image Compression Standard

JPEG 2000 is a wavelet-transform-based image compression standard developed and maintained by the Joint Photographic Experts Group. It's widely considered the next-generation successor to DCT-based JPEG, offering higher compression ratios without blocky artifacts. JPEG 2000 files typically use .jp2 extension with MIME type image/jp2, supporting both lossy and lossless compression with advanced progressive decoding capabilities. Implementation typically involves discrete wavelet transform (DWT) algorithms followed by embedded block coding with optimized truncation (EBCOT).