How we can do real-time, hardware based compression to eliminate dead-time from the data ?
(for example in logic analyzers use this method to reduce volume of memory for storage of data).
just seaching for "hardware based compression"
found - "The Maestro AFE has incorporated custom hardware-based compression engine which utilizes gzip and deflate"
BTW , cisco has a compression board realised on Xilinx fpga to reduce wan load.
Having bulk of data to compress will facilitate you a compression procedure as building of huffman trees
(http://www.compressconsult.com/huffman/)
could be done while collecting data into blocks.