1. A system for hosting network services, comprising: a network switch configured to provide at least a first virtual switch having an associated first virtual device context (VDC), wherein the first virtual switch is assigned a first set of physical ports of the network switch and wherein the first virtual switch is defined by a first VDC configuration; and a service node that processes network traffic forwarded by the first virtual switch, wherein the service node includes at least a first port connecting the service node to one of the first set of physical ports associated with the first virtual switch, wherein the service node is configured to process the network traffic forwarded by the first virtual switch based on the first VDC associated with the first virtual switch and wherein the first VDC configuration provides a shared configuration for the first virtual switch and the service node for processing the network traffic forwarded to the service node by the first virtual switch.