It'd have to be more than one byte. There's the central directory, zip header, local header then the file itself you need to also tell it how many zeros to make when decompressing the actual file but most compression algorithms don't work like that because they're designed for actual files not essentially blank files so you get larger than the absolute minimum compression.
I mean, if I make a new compression algorithm that says a 10GB file of zeros is represented with a single specific byte, that would technically be compression.
All depends on how much magic you want to shove into an "algorithm"
