JPEG 2000 is a wavelet-based image-compression standard, developed by the same committee that previously developed JPEG, although with a different group of participants and contributors.
JPEG 2000 was conceived as a next generation image compression standard that would improve on the performance of JPEG while, more significantly, adding features and capabilities not available with Baseline JPEG compression.
One Asset supports
File formats with generous metadata support
JPEG 2000 as a Preservation Format for Digital Raster Images at Library and Archives Canada (www.collectionscanada.gc.ca/digital-initiatives/012018-2100.01-e.html )
Start with original image, which is encoded. Then, list of Choices for Decoding: Image Resolution, Quality, File size, Colour/component, Lossless/lossy, Region-of-Interest, Random access. The image is then decoded and three final products are shown: a thumbnail of an image, a close-up of a detail in the image, and a digital full size image.