SquashFS
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Squashfs is a compressed read-only file system for Linux.

Creation
shell
mksquashfs source1 source2 ... destination [options]

Use alternate compressions:
shell
mksquashfs source1 destination -comp <compression>

Highly compressed:
shell
mksquashfs source1 destination -comp xz -Xdict-size 100%

Extraction
shell
unsquashfs [options] target [files/directories to extract]