From mboxrd@z Thu Jan  1 00:00:00 1970
From: linux@arm.linux.org.uk (Russell King - ARM Linux)
Date: Thu, 28 Jun 2012 17:03:11 +0100
Subject: kernel boot stops with "zlib_deflate: version magic" ,
 "zlib_inflate: version magic"
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Message-ID: <20120628160310.GA25660@n2100.arm.linux.org.uk>
To: linux-arm-kernel@lists.infradead.org
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On Wed, Jun 27, 2012 at 05:59:20PM +0530, K K wrote:
> <6>VFP support v0.3: implementor 41 architecture 1 part 10 variant 9 rev 1
> <5>RAMDISK: gzip image found at block 0
> VFS: Mounted root (ext2 filesystem) on device 1:0.
> <6>Freeing init memory: 104K

Good, so you've made it all the way through the kernel initialization.
Then your userspace is trying to load a module:

> --debug .@ <kernel/module.c>  <load_module>  <2186>
> <3>zlib_deflate: version magic '2.6.10 ARMv5 gcc-3.4' should be '2.6.32
> mod_unload ARMv5 '
> --debug .@ <kernel/module.c>  <load_module>  <2186>
> <3>zlib_inflate: version magic '2.6.10 ARMv5 gcc-3.4' should be '2.6.32
> mod_unload ARMv5 '*

where the module was:
1. built for a different version of the kernel
2. built with different module configuration options (your kernel supports
   module unloading, the 2.6.10 was built without that support.)