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JP2 is a raster format that is based on JPEG 2000 Core Coding, a graphic compression standard and coding system. JP2 files can be stored using either lossy or lossless compression.
Additionally, JP2 also features a wavelet compression algorithm as opposed to the DCT (Digital Cosine Transform) one used in other JPEG files.
In order to open JP2 images, users need to choose a compatible graphic viewer.