Zstandard has been mentioned before by billon (viewtopic.php?p=84833#p84833) and a few others at the Jabut topic (viewtopic.php?t=22053), but with the increased attention it is garnering I suppose it deserves a dedicated post.
Zstandard is a real-time compression algorithm, providing high compression ratios. It offers a very wide range of compression/speed trade-off, while being backed by a very fast decoder. It also offers a special mode for small data, called dictionary compression, and can create dictionaries from any sample set. Zstandard library is provided as open source software using a BSD license.
.Zstandard (or Zstd) is a lossless data compression algorithm developed by Yann Collet at Facebook. The name also refers to the reference implementation in C. Version 1 of the implementation was released as free software on 31 August 2016.
Here's the comparison table with the official benchmark from Zstandard homepage:
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FYI, there's a 7zip build with support for Zstandard (among some other exotic formats) at https://mcmilk.de/projects/7-Zip-zstd/ and a plugin for the regular 7zip with comparable scope at http://www.tc4shell.com/en/7zip/modern7z/.