I2S, S/PDIF, Toslink connections


In searching for a new DAC the input choices are many. There are several ways in which inputs can be connected to a DAC and this can be compounded when an USB/SPDIF converter is inserted between computer and DAC. I wish to learn more regarding the SQ as afforded by these inputs.

Specific questions:
I am of the understanding that coaxial is superior to toslink when connecting CDP to DAC. Is this true?

What is an I2S connection and what are advantages to this option? Uses an HDMI cable i believe.

Thanks in advance for helping with my understanding.
mesch
Quick update on this. Reassuringly I2s is really catching on. These manufacturers (at least) offer I2S inputs or converters:

  • Pink Faun
  • Sonore
  • Wyred4Sound
  • PS Audio
  • K&K Audio
  • Audiobyte / Rockna
  • Wadia
  • Love Harmony
  • MSB Technology
  • Empirical Audio
  • Northstar Design
  • LKS Audio
  • Ayon
  • Stello
  • Audio Alchemy
  • Perpetual Audio
  • Camolot
  • Aquasound
  • Audio-GD

Interesting thread. I am currently connecting my Apple TV to my DAC (Cambridge Audio Azur 851 D) via toslink. I was advised that this was a better route than coax. 

I'm thinking of replacing the Apple TV with a Bluesound Node 2. Based on the opinions on this thread, it seems coax is a better alternative if ground loop noise is not a factor.