In comparing Cisco's HSRP vs. VRRP, the obvious advantage of VRRP is that it achieves the same goal using an open standard, although some note it also conserves an IP address, because the gateway's real IP is used instead of a Virtual IP.
HP/Brocade went in the opposite direction! They created VRRP-E, and what is its primary advantage? It uses a Virtual IP address rather than one of the one's assigned to the gateway's IP addresses! While I have read both their documentation, can someone explain a business advantage of this that justifies designing, implementing, and running a proprietary protocol?!
Here is what the vendor states--
There is no “Owner” router. You do not need to use an IP address configured on one of the Layer 3 Switches as the virtual router ID (VRID), which is the address you are backing up for redundancy. The VRID is independent of the IP interfaces configured in the Layer 3 Switches. As a result, the protocol does not have an “Owner” as VRRP does.
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There is no restriction on which router can be the default master router. In VRRP, the “Owner” (the Layer 3 Switch on which the IP interface that is used for the VRID is configured) must be the default Master.