Saving as jpegs: GraphicConverter offers two choices (JPEG 2000 (.jp2)) or (JPEG/JFIF (.jpg, .jpeg). What’s the difference?
According to
Wikipedia: "By ordering the codestream in various ways, applications can achieve significant performance increases. However, as a consequence of this flexibility, JPEG 2000 requires codecs that are complex and computationally demanding. Another difference, in comparison with JPEG, is in terms of visual artifacts: JPEG 2000 only produces ringing artifacts, manifested as blur and rings near edges in the image, while JPEG produces both ringing artifacts and 'blocking' artifacts, due to its 8×8 blocks."
Which may leave you as confused as you were before.
In my roaming around the Internet of images I see very few (none?) images in the JPEG 2000 format, but your mileage may vary. Perhaps their use is more within applications than outside of them.