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With the extensive application of digital television, video compression technology has become one of the topics which the telecommunication industry concerns most. A video compression method based on redundant discrete wavelet transforms, Delaunay triangle and triangular affine transformation is presented. The feature points and potential motion areas (PMA) are extracted in the wavelet transform domain, and motion estimation is done in the time domain. Experiment results show that the algorithm can increase the PSNR value and reduce the video coding complexity. It has a certain practical value.