Morgan Multimedia MJPEG2000 Codec Description:

Morgan M-JPEG2000 codec is a Windows Motion JPEG2000 video codec. JPEG2000 is the new
international standard for image compression method and file format. This is the
successor of the well-known traditional JPEG. JPEG2000 technology is based on an
mathematical algorithm called wavelets to compress image that provides high
compression with image quality superior to all existing standard encoding techniques
even at low bit rates.

Morgan Multimedia MJPEG2000 Codec Publishers' Full Overview:

Morgan M-JPEG2000 codec is a Windows Motion JPEG2000 video codec. JPEG2000 is the new international standard for image compression method and file format. This is the successor of the well-known traditional JPEG written by the ISO group Joint Photographic Experts Group. Contrary to the technology JPEG which used DCT functions, JPEG2000 technology is based on an mathematical algorithm called wavelets to compress image that provides high compression with image quality superior to all existing standard encoding techniques even at low bit rates. That’s the reason why JPEG2000 has a number of advantages over the JPEG Format

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