Although this works well it has a few problems. This keeps any other device from transmitting. As the amount of traffic goes up, it becomes harder and harder for a device to transmit on the network. For this reason, ethernet tend to slow down significantly as network utilization goes up. These issues are addressed by proper network design to contain traffic to only those areas of the network that really need to hear a particular piece of traffic.
Ethernet is the most common form of network in use currently.
This will probably continue to be the case for some time to come as it has successfully adapted to faster and faster transmission rates with the same basic structure. Token Ring Uses a method called token passing for network access. Think of this a hall pass for the data. When a device received the token, it can do one of two things. It can simply pass it on with no changes or it can add data is has to transmit to the packet and send it to the intended recipient.