S/PDIF is a widely-used interface for digital audio, that can carry compressed or decompressed audio data. Decoding for uncompressed PCM would be great to start with.
The analyzer by pfrench42 is not sufficient. It only supports 16 bit data, whereas the standard accommodates up to 24 bits; doesn't decode channel status data, and doesn't distinguish between S/PDIF (consumer) and AES3 (professional) encodings.
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