There is no such thing as an ideal compression algorithm without a lot of thought going into what it is 'ideal for'. But pixz [1 ]and pigz [2] are useful parallel implementations of xz and gz respectively. With concomitant speed increases over their single threaded implementations.

[1] I've found the '-f n' commandline switch useful for tuning: https://github.com/vasi/pixz

[2] gzip still a fine thing (see 'ideal for'): https://zlib.net/pigz/