Time-to-digital converters with sub-picosecond resolutions are needed to satisfy the requirements of time-on-flight measurements of the next generation of high energy and nuclear physics experiments. The converters must be highly integrated, power effective, low cost, and feature plug-and-play capabilities to handle the increasing number of channels (up to hundreds of millions) in future Department of Energy experiments. Current state-off-the-art time-to-digital converter integrated circuits do not have the sufficient degree of integration and flexibility to fulfill all the described requirements. During Phase I, the Advanced Science and Novel Technology Company in cooperation with the nuclear physics division of the Oak Ridge National Laboratory has developed the architecture of a novel time-to-digital converter with multiple channels connected to an external processor through a special interfacing block and synchronized by clock signals generated by an internal phase-locked loop. The critical blocks of the system including signal delay lines and delay-locked loops with proprietary differential delay cells, as well as the required digital code converter and the clock period counter have been designed and simulated using the advanced SiGe120 BiCMOS technological process. The results of investigations demonstrate a possibility to achieve the digitization accuracy within 1ps. ADSANTEC has demonstrated the feasibility of the proposed concept in computer simulations. The proposed system will be a critical component for the next generation of NEP experiments.