The disclosed system and method data increases data transmission speed through a memory system by using optical signals comprising a plurality of wavelengths of light so that each pulse of optical signals can represent more than a single bit of data. An optical transmitter comprises multiple, separately controllable light-emitting sections which generate light at different wavelengths. A photoreceptor, comprising sections of materials responsive to light received at different wavelengths, provides an output signal corresponding to the light signals received at the different wavelengths. The photoreceptor therefore can decode the received optical signals into a multiple bit output sequence corresponding with the multiple bit sequence originally transmitted. The disclosed method and system can be used to communicate signals between a plurality of memory devices and a memory hub within a memory module or directly to a system memory controller, and/or between a plurality of memory hubs and a system memory controller.