Method and system for wavelength-based processing of a light beam. A light beam, produced at a chemical or physical reaction site and having at least first and second wavelengths, 1 and 2, is received and diffracted at a first diffraction grating to provide first and second diffracted beams, which are received and analyzed in terms of wavelength and/or time at two spaced apart light detectors. In a second embodiment, light from first and second sources is diffracted and compared in terms of wavelength and/or time to determine if the two beams arise from the same source. In a third embodiment, a light beam is split and diffracted and passed through first and second environments to study differential effects. In a fourth embodiment, diffracted light beam components, having first and second wavelengths, are received sequentially at a reaction site to determine whether a specified reaction is promoted, based on order of receipt of the beams. In a fifth embodiment, a cylindrically shaped diffraction grating (uniform or chirped) is rotated and translated to provide a sequence of diffracted beams with different wavelengths. In a sixth embodiment, incident light, representing one or more symbols, is successively diffracted from first and second diffraction gratings and is received at different light detectors, depending upon the wavelengths present in the incident light.