Increasing demands for data centers, backbone, access, and wireless networks require inventive concepts to transmit and distribute digital or analog signal waveforms. We present a new, extremely simple transceiver concept, fundamentally different from conventional approaches. It does not rely on high-speed electronics and enables transmission of various time multiplexed analog waveforms or digital data signals with the maximum possible symbol rate in the same rectangular optical spectral band B. The aggregate symbol rate of N signal channels corresponds to B or twice the used modulator’s electro-optical bandwidth. By a modification of the system, it can be increased to three times the modulator bandwidth. The rectangular spectra can be further multiplexed into wavelength-superchannels without guardbands. To time demultiplex single signal channel, just another intensity modulator and a detector with an electrical bandwidth corresponding to the channel’s baseband width (B/(2N)) is required. No optical filter, high-speed signal processing, or unconventional photonic devices are needed; thus, it has the potential to be easily integrated into any platform and provides an economical and energy-efficient solution for future communication networks and microwave photonic links.