MatrixView, JPEG competitor?

Jpeg faces competition Compression algorithm newcomer MatrixView is pitching its new imaging method .Muv at the Jpeg market. MatrixView's algorithm produces lossless imaging and is more easily transported through binary code matching, according to algorithm author and chief MatrixView scientist Arvind Thiagarajan. Images sent via .Muv can be more easily compressed, encrypted, searched and eventually segmented than current images, Thiagarajan said. "The .Muv is a completely new image," he said, adding that because of the lower complexity of compression it makes less demand on hardware, and is much faster to transfer and compress. "Based on the algorithm [ABO] we have shown that we can exceed the so-called theoretical limits of compression. "For example, if an original image size was 368,000 bytes, theoretical limits so far calculate it [the image] can be compressed one-way to 142,000 bytes, but we have shown it can be compressed up to 48,000 bytes - it is almost optimizing the binary system." See in details.