Token Ring is a network protocol developed by IBM in the 1980s. It uses a token-passing method to control access to the network, where a small data packet called a "token" circulates around the network. Only the device that holds the token can send data, which helps prevent collisions and ensures orderly communication. In a Token Ring network, devices are connected in a circular topology. Each device checks the token as it passes by, and if it has data to send, it captures the token, transmits its data, and then releases the token back into the network. This method allows for efficient data transfer and reduces network congestion.