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can i attach the output of the ti chip directly to the connector going to the cyclone iii? ie without a series resistor?
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Yes. If a source termination is required, it would be needed back at the source driving the input to the bus switch.
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should i connect the fpga ground to the ground of the system i'm receiving the 5v ttl from? --- Quote End ---
Yes. Without it, your interface will not work.
If you need an isolated interface, then Analog Devices has some nice parts; look for iCoupler.
Cheers,
Dave