JPEG 2000 is a new image coding system that uses state-of-the-art compression techniques based on wavelet technology. Its architecture should lend itself to a wide range of uses from portable digital cameras through to advanced pre-press, medical imaging and other key sectors.
PNG or <a href="http://www.yiigo.com/support/kb/formats/png/">Portable Network Graphics</a> is raster graphics file format that supports lossless data compression. PNG was created to replace Graphics Interchange Format (GIF) and Tagged Image File Format (TIFF) and add some functionality that GIF does not have.
Unlike other image file format, PNG supports 256 colors palette-based images with a relatively small file size; RGB, RGBA and Grayscale image with or without alpha channel; 1-48 bit True-color image and 1-16 bit grayscale image; gamma adjustment; storing image name, writer, version, time, annotation and more; and lossless data compression method known as DEFLATE. There are many image and document processing tools online. You can refer to their tutorials for help. Good luck.