Dynamic routing protocols fall into categories based on how they share information.
Distance Vector: Routers share their routing tables with neighbors. Each router knows distances to destinations but not the full topology. RIP and EIGRP use this approach.
Link State: Routers share information about their directly connected links. Each router builds a complete topology map and calculates paths independently. OSPF uses this approach.
Distance vector is simpler but converges slower. Link state requires more memory but provides faster convergence and loop-free routing.