The transformation between time and space is discussed. To improve real-time response speed of intelligent measuring system, the concept of exchanging program execution time with more circuitry is presented working in cycle mode. Displacement measuring by magnification is achieved with period measurement by magnification. To change the condition that traditional precision measurement depends on machining precision greatly, the concept of measuring space with time and theory of time-space coordinate transformation are proposed. Guided by the idea of measuring space with time, differential frequency measurement system and time grating displacement sensor are developed based on the proposed novel methods. And high-precision measurement is achieved without high-precision manufacture, which embeds the remarkable characteristics of low cost but high precision to the devices. Experiment and test results conform the validity of the proposed time-space concept.