Which description best matches VRRP?

VRRP (Virtual Router Redundancy Protocol) is an open-standard First Hop Redundancy Protocol (FHRP) that allows multiple routers to share a single virtual IP address and MAC address. This virtual router then acts as the default gateway for hosts on a LAN, providing redundancy. If the active router fails, a backup router seamlessly takes over the virtual IP and MAC, ensuring continuous network connectivity. "Uses Cisco-proprietary First Hop Redundancy Protocol" is incorrect because VRRP is an open standard; HSRP is Cisco proprietary. "Uses a destination IP address 224.0.0.102 for router-to-router communication" is incorrect; VRRP uses 224.0.0.18. 224.0.0.102 is used by GLBP. "Uses dynamic IP address assignment" is incorrect as VRRP focuses on gateway redundancy, not IP address assignment, which is typically handled by DHCP.