Wavelet JPEG compression spec finalized

Get ready to sell your digital camera on eBay. At last, a royalty-free wavelet compression standard is available for public use! The ISO has finish spec'ing out JPEG2000, which "compresses images up to 200 times with no appreciable degradation in quality." Wavelet compression is a huge advance, perfect for use in digital imaging and on the web. The spec will be extensible, with "part two" extensions having royalties attached. One planned extension sounds quite cool:
To handle what is called mixed-raster content, part two will segment complex images-say, a magazine page-into portions that are black-and-white text and portions that are color images.
Read the whole press release for more detailed info. Thanks to Hardware One for the news.
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