What Does Virtual Router Redundancy Protocol (VRRP) Mean?

Virtual Router Redundancy Protocol (VRRP) is a network management protocol that is used to increase the availability of default gateway servicing hosts on the same subnet. VRRP improves the reliability and performance of the host network by enabling a virtual router to act as the default gateway for that network.

Techopedia Explains Virtual Router Redundancy Protocol (VRRP)

Network performance is improved by dynamically assigning one of the virtual routers as a default gateway using a VRRP election algorithm. This algorithm increases reliability and provides a fail-over mechanism and support for static routing. The VRRP assigns one of the routers as the master router, which manages the forwarding and routing of traffic toward all the virtual IPs associated with these routers. It also dynamically switches over to another router if the master is unavailable.