Token ring network is different from both CSMA/CD and token
bus in that it does NOT use broadcast channel. It's a collection
of point to point links forming a physical ring
. Therefore, the physical layer
of Token Ring is also completely different from CSMA/CD.
Only one token can be in the ring at any time.
Furthermore, only token holder has the right to transmit.
The delay introduced by all the stations is used to store the token in the ring so that, together with propagation delay, the token can fly around the ring without overlapping with itself.