HQPlayer is a high quality Player (as per website) with processing features. That is a Player / App Plus much more.
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Higher quality oversampling and delta-sigma modulation can be done by utilizing vast amount of processing power available in modern PCs "
Audirvana is another example of a Player / App (Audio Player) that can be installed on PC. This player does support MQA and is dependent upon specific gear.
" Audirvana integrates a decoder for MQA files (Master Quality Authenticated), a PCM format able to reproduce HD quality in a file small enough to be streamed or downloaded."
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A “MQA Decoder” DAC takes care of all the decoding process. If your DAC is an “MQA Renderer”, decoding is shared between Audirvana and your DAC. Both options grant you an optimal quality. "
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Even if your DAC isn’t MQA compatible, you can still read the files with Audirvana’s integrated decoder and benefit from their high resolution, including the unfolding of the upper half hires signal. "
Using HQPlayer would be more of a Basis for how your system works.
From Signalist description: "
Asynchronous FIFO provides maximum isolation between processing and audio reproduction."
But the Terminator DAC also uses a FIFO Buffer for isolation.
The exaSound Sigma Streamer supports WiFi (with network interface) :
https://exasound.com/Products/SigmaStreamer.aspx
Check into the Sigma Streamer for compatibility with Terminator DAC.
HQPlayer would typically be used for a Custom Audio PC and is enbedded in many streaming Products.
My Integrated Amp (also WiFi capable) does Streaming and DSP noise shaping and more making playback notably good all at once.
My component Headphone Gear - two Amps / one DAC sound good
but I know that my DAC can be much better.
Maybe I'll have a chance to use HQPlayer sometime soon.