JPEG2000 format
JPEG 2000 is a new image coding system that
uses state-of-the-art compression techniques based on wavelet technology.
This is the successor of the well-known traditional JPEG written by
the ISO group Joint Photographic Experts Group. Contrary to the technology
JPEG which used DCT functions, JPEG2000 technology is based on an mathematical
algorithm called wavelets to compress image that provides high compression
with image quality superior to all existing standard encoding techniques
even at low bit rates.
That's the reason why JPEG2000 has a number of advantages over the JPEG
Format.
Standard JPEG file

JPEG2000 file
JPEG2000 Advantages vs. JPEG ?
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Higher compression without compromising quality.
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Alpha transparency
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Lossless compression mode
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16-bit color
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Define Region of interest that allows to define
some important areas to be compressed at a higher quality than other
one.
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Lossy and lossless compression: have the choice
of loosing quality but having little files or preserve all the quality
but still saving a lot of space.
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No artifact with very high compression.
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The JPEG2000 file format is XML based metadata.
JPEG2000 format choosen by AbsolutVision
To correctly open our JPEG 2000 images, you will need the Adobe Photoshop JPEG2000 plug-in or Adobe
Photoshop 8. We have choosen this extended JPEG2000 file format (.jpf) because Photoshop "path" could also be saved.
With our Pro JPEG2000 files, you will get then an alpha channel and a path for a fast and easy image-editing solution.
Installing the JPEG2000 plug-in in Adobe Photoshop CS
Photoshop does not include the JPEG 2000 plug-in by default--you must install it manually.
Copy the JPEG2000 (Mac OS) or JPEG2000.8bi (Windows) plug-in to the Photoshop/Plug-Ins/Adobe Photoshop Only/File Formats folder on your hard disk:
– If you use Photoshop without the Adobe Creative Suite, copy the plug-in from the Goodies/Optional Plug-Ins/Photoshop Only/File Formats folder on the Photoshop CS CD-ROM.
– If you use Photoshop with the Adobe Creative Suite, copy the plug-in from the Goodies/Photoshop CS/Optional Plug-Ins/Photoshop Only/File Formats folder on the Adobe Creative Suite Resources and Extras 1 CD-ROM.
From http://www.adobe.com/support/techdocs/32212.htm