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MPEG2 or MPEG4 H.264 encoding is better

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In general, the difference between MPEG2, MJPEG, & H.264 is indicated by video compression methodologies.

For example, MJPEG requires hefty bandwidth resource to transmit video, but is lean on the requisite 'decoding' resources.

H.264 is a much more efficient transmission method that uses a fraction of the bandwidth required of MJPEG, but requires more CPU resources to decode at the end of the stream.

H.264 permits you to send rather large megapixel frames over existing networks, but requires a nicely performing hardware and decoding software to reproduce images with small latency.
 
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