A new approach (designed to lower computational complexity) to compression of finite binary data, based on the application of “exclusive-or” operation, is presented in the paper. The new concept of an identifying sequence, associated with a particular decomposition scheme, is introduced. A new heuristic algorithm for calculation of the identifying sequences has been developed. Two robust algorithms – for compressing and streaming the sequences (using a priori compiled decomposition tables), and for real time decoding of the compressed streams – were proposed and implemented. The experimental results confirmed that the developed approach gave a data compression effect on an ordinary computer system.