A synchronous network traffic processor that synchronously processes, analyzes and generates data for high-speed network protocols, on a wire-speed, word-by-word basis. The synchronous network processor is protocol independent and may be programmed to convert protocols on the fly. An embodiment of the synchronous network processor described has a low gate count and can be easily implemented using programmable logic. An appropriately programmed synchronous network traffic processor may replace modules traditionally implemented with hard-wired logic or ASIC.