1. A method for indexing a digital video library comprising a plurality of videos, each video having a plurality of video segments, the method comprising: generating a three-dimensional wavelet transform for each of the plurality of video segments, each three-dimensional wavelet transform comprising a plurality of coefficients; quantizing, by a computing device, a subset of N coefficients of the plurality of coefficients of each of the three-dimensional wavelet transforms to generate a quantized subset of N coefficients for each of the three-dimensional wavelet transforms, wherein each quantized coefficient comprises either a first symbol representing a positive coefficient, or a second symbol representing a negative coefficient; setting each remaining coefficient not in the subsets of N coefficients to zero; generating a plurality of video fingerprints from the quantized subsets of N coefficients and the remaining coefficients that are set to zero, each video fingerprint corresponding to a different video segment of the plurality of videos in the digital video library, wherein each video fingerprint represents spatial information within frames and sequential characteristics between the frames of the video segment; indexing the plurality of video fingerprints; and storing the indexed video fingerprints in a computer readable storage medium.