The lifting scheme is a technique for both designing wavelets and performing the discrete wavelet transform. Actually it is worthwhile to merge these steps and design the wavelet filters while performing the wavelet transform. This is then called the second generation wavelet transform. The technique was introduced by Wim Sweldens.
The discrete wavelet transform applies several filters separately to the same signal. In contrast to that, for the lifting scheme the signal is divided like a zipper. Then a series of convolution-accumulate operations across the divided signals is applied.
Read more about Lifting Scheme: Basics, Properties, Generalized Lifting, Applications
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