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JP2, or JPEG 2000, is an image format that was developed as an update to the traditional JPEG format. Introduced in the year 2000 by the Joint Photographic Experts Group (the same group behind the original JPEG), JPEG 2000 was designed to offer a more robust and flexible alternative to the older JPEG standard.
PNG, which stands for Portable Network Graphics, is a raster graphics file format that was created as an improved, non-patented replacement for GIF. It was first developed in the mid-1990s as a response to the limitations of the GIF format, primarily its color palette restrictions and the patent issues surrounding the compression technique GIF used at the time.