DANTE networking vs. traditional sound

I've been seeing that many traditional sound systems have switched from long runs of audio cable to using networking cable using the DANTE system. Is this a proprietary system or open standard? Does it enable the use of traditional networking equipment (e.g., switches) or does all networking equipment in the stack need to be specially-outfitted for DANTE? Is there any (demonstrable) degradation in audio quality over using traditional audio cable?

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DANTE networking vs. traditional sound

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