Term of the Day: Token Passing
 

A type of channel access method. Token passing uses a token, or series of bits, to grant a device permission to transmit over the network. Whichever device has the token can put data into the network. When its transmission is complete, the device passes the token along to the next device in the topology. System rules in the protocol specifications mandate how long a device may keep the token, how long it can transmit for and how to generate a new token if there isn't one circulating.

Re: Term of the Day: Token Passing
 

That's a system that is only usefull with a verry big and used network. It's IBM's standaard (I suggest you search in that direction).