The best replacement for coaxial is optical.

The best alternatives to coaxial are rated as following:
★★★★★  optical
★★★★  component
★★★  rca
★★★  hdmi
★★★  optical audio
★★  toslink
★★  component speakers
★  fiber optic
★  composite
★  digital optical
★  s-video
★  component car speakers
★  twisted pair
★  fixed pitch
  rca audio
  component video
  spdif
  2-way speakers
  optical digital cables
  optical which is best
  optical cable
  av cable
  optical audio cable
  optical sound quality
  triaxial speakers
  optical digital
  toslink optical
  utp
  digital coaxial

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Google Trends

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coaxial
optical
component