JPEG2000, is an ISO standard and intended to replace the JPG format.
The release of JPEG 2000 has been relatively slow since its release in December 2000 and browser support is still lacking. The format offers quality loss-free compression, aimed at minimizing file size and compression artifacts. JPG 2000 uses XML to store metadata in the file.
JPEG 2000 is a preferred format for file type Images (raster).