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RIP version 2 distributes the entire routing table every 30 seconds out

Setup RIPv2:

Router(config)#router rip
Router(config-router)#version 2
Router(config-router)#no auto-summary # tells it not to send summary messages
Router(config-router)#default information originate # distributes default gateway
Router(config-router)#passive-interface fa0/0 # use this command to set an interface you don't want to share details to.
Router#copy run start

Key points:

RIP uses hop counts to calculate optimal routes (a hop is a router).
RIP routing is limited to 15 hops to any location (16 hops indicates the network is unreachable).
RIP uses the split horizon with poison reverse method to prevent the count-to-infinity problem.
RIP uses only classful routing, so it uses full address classes, not subnets.
RIP broadcasts updates to the entire network.
RIP can maintain up to six multiple paths to each network, but only if the cost is the same.
RIP supports load balancing over same-cost paths.
The update interval default is 30, the invalid timer default is 180, the holddown timer default is 180, and the flush timer default is 240.