Method and system for establishing asymmetric transfer rates between a first node and a second node communicating with each other via a network link using Ethernet as a network protocol is provided. The method includes determining during a negotiation process that the first node and the second node have compatible asymmetric capability to set a first rate for transmitting information via the network link and a second rate for receiving information via the network link using Ethernet as the network protocol; and establishing the first rate for transmitting information and the second rate for receiving information. Furthermore, the first node includes a first port having a receive segment and a transmit segment. The transmit segment and the receive segment have separate PLL modules such that the transmit segment can transmit data at a first rate and the receive segment can receive data at a second rate via the network link.