'chance-based' originates from the English word 'chance,' which comes from the Old French 'cheance,' meaning 'luck' or 'fortune,' and the suffix '-based,' indicating foundation or reliance.

'cheance' transformed into the Middle English word 'chaunce,' and eventually became the modern English word 'chance.' The term 'chance-based' was formed by combining 'chance' with the suffix '-based.'

Initially, 'chance' meant 'luck' or 'fortune,' but over time, it evolved to include the idea of randomness or unpredictability, leading to the formation of 'chance-based.'