1. A computer-implemented method, comprising: performing on a computer a wavelet transform on each pixel of a frame to generate a plurality of wavelet coefficients representing each pixel in a frequency domain; iteratively encoding on a computer wavelet coefficients of a sub-band of the frame obtained from a parent sub-band of a previous iteration into a bit stream based on a target transmission rate, wherein the encoded wavelet coefficients satisfy a predetermined threshold based on a predetermined algorithm while the wavelet coefficients that do not satisfy the predetermined threshold are ignored in the respective iteration; and tracking spatial shift of one or more coefficients between frames.