EIGRP is an enhanced interior gateway routing protocol developed by Cisco. It is a hybrid routing protocol that incorporates features of both distance-vector and link-state routing protocols. EIGRP uses the Diffusing Update Algorithm (DUAL) to determine the best path to a destination while also maintaining alternative loop-free paths for rapid convergence in case of a link failure or cost change. EIGRP sends partial route updates only when changes occur to reduce bandwidth utilization.