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EIGRP (Enhanced Interior Gateway Routing Protocol) is a Cisco proprietary protocol that allows for the use of both equal and unequal cost load balancing, providing more flexibility in routing decisions. OSPF (Open Shortest Path First), on the other hand, is a link-state protocol that only supports equal cost path load balancing. This means that OSPF will only use multiple paths if they have the same cost metric, whereas EIGRP can utilize paths with different metrics, optimizing the use of network resources and potentially improving overall network performance.