diff --git a/Cargo.lock b/Cargo.lock
index 81d6aa64125445..5ebee269848f49 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -6253,6 +6253,7 @@ name = "solana-ledger-tool"
 version = "1.19.0"
 dependencies = [
  "assert_cmd",
+ "bincode",
  "bs58",
  "bytecount",
  "chrono",
diff --git a/core/src/banking_stage.rs b/core/src/banking_stage.rs
index 652f2569f8fd43..5cad822212766a 100644
--- a/core/src/banking_stage.rs
+++ b/core/src/banking_stage.rs
@@ -67,7 +67,7 @@ mod immutable_deserialized_packet;
 mod latest_unprocessed_votes;
 mod leader_slot_timing_metrics;
 mod multi_iterator_scanner;
-mod packet_deserializer;
+pub mod packet_deserializer;
 mod packet_receiver;
 mod read_write_account_set;
 #[allow(dead_code)]
diff --git a/core/src/banking_stage/packet_deserializer.rs b/core/src/banking_stage/packet_deserializer.rs
index a405b626568482..726fbb1ceb9e12 100644
--- a/core/src/banking_stage/packet_deserializer.rs
+++ b/core/src/banking_stage/packet_deserializer.rs
@@ -67,7 +67,7 @@ impl PacketDeserializer {
 
     /// Deserialize packet batches, aggregates tracer packet stats, and collect
     /// them into ReceivePacketResults
-    fn deserialize_and_collect_packets(
+    pub fn deserialize_and_collect_packets(
         packet_count: usize,
         banking_batches: &[BankingPacketBatch],
         round_compute_unit_price_enabled: bool,
diff --git a/ledger-tool/Cargo.toml b/ledger-tool/Cargo.toml
index 6da42940a4ba7f..045b18aac6c7f6 100644
--- a/ledger-tool/Cargo.toml
+++ b/ledger-tool/Cargo.toml
@@ -10,6 +10,7 @@ license = { workspace = true }
 edition = { workspace = true }
 
 [dependencies]
+bincode = { workspace = true }
 bs58 = { workspace = true }
 chrono = { workspace = true, features = ["default"] }
 clap = { workspace = true }
diff --git a/ledger-tool/src/main.rs b/ledger-tool/src/main.rs
index 778b1a3201ab0b..2bec5bef0ee38f 100644
--- a/ledger-tool/src/main.rs
+++ b/ledger-tool/src/main.rs
@@ -1560,34 +1560,65 @@ fn main() {
                     println!("{}", open_genesis_config_by(&output_directory, arg_matches));
                 }
                 ("shred-version", Some(arg_matches)) => {
-                    let mut process_options = parse_process_options(&ledger_path, arg_matches);
-                    // Respect a user-set --halt-at-slot; otherwise, set Some(0) to avoid
-                    // processing any additional banks and just use the snapshot bank
-                    if process_options.halt_at_slot.is_none() {
-                        process_options.halt_at_slot = Some(0);
+                    use solana_core::banking_trace::TimedTracedEvent;
+                    use solana_core::banking_trace::TracedEvent;
+                    let path = PathBuf::new().join("/dev/stdin");
+                    use std::{fs::File, io::BufReader};
+                    let mut stream = BufReader::new(File::open(&path).unwrap());
+                    /*
+                    let mut bank_starts_by_slot = std::collections::BTreeMap::new();
+                    let mut packet_batches_by_time = std::collections::BTreeMap::new();
+                    let mut hashes_by_slot = std::collections::HashMap::new();
+                    */
+
+                    let mut packet_count = 0;
+                    /*
+                    let mut events = vec![];
+                    */
+                    use solana_sdk::message::AddressLoader;
+                    use solana_sdk::message::v0::LoadedAddresses;
+                    use solana_sdk::message::v0::MessageAddressTableLookup;
+                    #[derive(Clone)]
+                    struct A;
+                    impl AddressLoader for A {
+                        fn load_addresses(self, _: &[MessageAddressTableLookup]) -> Result<LoadedAddresses, solana_sdk::message::AddressLoaderError> { Ok(LoadedAddresses::default()) }
                     }
-                    let genesis_config = open_genesis_config_by(&ledger_path, arg_matches);
-                    let blockstore = open_blockstore(
-                        &ledger_path,
-                        arg_matches,
-                        get_access_type(&process_options),
-                    );
-                    let (bank_forks, _) = load_and_process_ledger_or_exit(
-                        arg_matches,
-                        &genesis_config,
-                        Arc::new(blockstore),
-                        process_options,
-                        snapshot_archive_path,
-                        incremental_snapshot_archive_path,
-                    );
 
-                    println!(
-                        "{}",
-                        compute_shred_version(
-                            &genesis_config.hash(),
-                            Some(&bank_forks.read().unwrap().working_bank().hard_forks())
-                        )
-                    );
+
+                    loop {
+                        let d = bincode::deserialize_from::<_, TimedTracedEvent>(&mut stream);
+                        let Ok(event) = d else {
+                            info!("deserialize error: {:?}", &d);
+                            break;
+                        };
+                        error!("{:?}", event);
+                        let event_time = event.0;
+                        let event = &event.1;
+                        let datetime: chrono::DateTime<chrono::Utc> = event_time.into();
+                        match &event {
+
+                            TracedEvent::PacketBatch(_label, batch) => {
+                                let sum = batch.0.iter().map(|v| v.len()).sum::<usize>();
+                                packet_count += sum;
+                                let st = solana_core::banking_stage::packet_deserializer::PacketDeserializer::deserialize_and_collect_packets(0, &[batch.clone()], false).deserialized_packets.iter().filter_map(|ip| ip.build_sanitized_transaction(&Arc::new(FeatureSet::all_enabled()), false, A)).collect::<Vec<_>>();
+                                let st_label = format!("({:#?})", st);
+                                for transaction in st {
+                                    solana_cli_output::display::println_transaction(
+                                        &transaction.to_versioned_transaction(),
+                                        None,
+                                        "      ",
+                                        None,
+                                        None,
+                                    );
+                                }
+                                error!("event parsed: {}: <{}: {}{} = {:?}> {:?}", datetime.format("%Y-%m-%d %H:%M:%S.%f"), packet_count, sum, st_label, &batch.0.iter().map(|v| v.len()).collect::<Vec<_>>(), &event);
+                            }
+                            _ => {
+                                error!("event parsed: {}: {:?}", datetime.format("%Y-%m-%d %H:%M:%S.%f"), &event);
+                            }
+                        //events.push(event);
+                        }
+                    }
                 }
                 ("bank-hash", Some(arg_matches)) => {
                     let process_options = parse_process_options(&ledger_path, arg_matches);