RIPv2 vs EIGRP

RIPv2 improves upon RIPv1 with the ability to use VLSM, with support for route authentication, and with multicasting of route updates. RIPv2 supports CIDR. It still sends updates every 30 seconds and retains the 15-hop limit; it also uses triggered updates. RIPv2 still uses UDP port 520; the RIP process is responsible for checking the version number. It retains the loop-prevention strategies of poison reverse and counting to infinity. On Cisco routers, RIPv2 has the same administrative distance as RIPv1, which are 120. Finally, RIPv2 uses the IP address 224.0.0.9 when multicasting route updates to other RIP routers. As in RIPv1, RIPv2 will, by default, summarize IP networks at network boundaries. You can disable auto summarization if required.

 EIGRP in the early 1990s as an evolution of IGRP toward a more scalable routing protocol for large internetworks. EIGRP is a classless protocol that permits the use of VLSMs and that supports CIDR for the scalable allocation of IP addresses. EIGRP does not send routing updates periodically, as does IGRP. EIGRP allows for authentication with simple passwords or with MD5. EIGRP auto summarizes networks at network borders and can load-balance over unequal–cost paths. Packets using EIGRP use IP protocol 88. Only Cisco routers can use EIGRP.

EIGRP is an advanced distance-vector protocol that implements some characteristics similar to those of link-state protocols. Some Cisco documentation refers to EIGRP as a hybrid protocol. EIGRP advertises its routing table to its neighbors as distance-vector protocols do, but it uses hellos and forms neighbor relationships as link-state protocols do. EIGRP sends partial updates when a metric or the topology changes on the network. It does not send full routing-table updates in periodic fashion as do distance-vector protocols. EIGRP uses DUAL to determine loop-free paths to destinations. This section discusses DUAL.

Remember RIPv2 is for small network and EIGRP is for large networks.  RIPv2 update every 30 sec and EIGRP only update when there is a change saving on bandwidth