Method and system for assigning port addresses for a plurality of network devices based on a link rate associated with each network device is provided. The method includes discovering a link rate associated with each of the plurality of network devices; assigning a device address for each of the plurality of network devices, where at least a portion of the device address is selected based on the discovered link rate; assigning communication lanes among the plurality of network devices for network communication, wherein the communication lanes are assigned such that network devices with similar link rates use a same communication lane.