I have no experience with PeaZip but I imagine (and can be wrong!) its encryption feature is made for a totally different scenario than GPG's.

Isn't PeaZip's encryption based on a passphrase that must somehow (a GPG-encrypted mail?!) be send to whoever needs to open the archive? On the contrary, with GPG, I believe you encrypt the message (any message: a file, compressed or not, an email, etc.) with the public key of a specific user who is the only one who will be able to read it (nothing more needs to be send to her). I also guess that the encryption that specifically targets a compressed format must be faster. And in scenario where several users needs to open the archive, they can all share the passphrase for one single encryption.

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