BGP, or Border Gateway Protocol, is a standardized protocol used to exchange routing information between different networks on the internet. It helps routers determine the best paths for data to travel, ensuring efficient communication between various autonomous systems, which are large networks or groups of networks managed by a single organization. BGP operates by using a system of path vectors, where each router shares information about the routes it knows. This allows routers to make informed decisions about the best routes to take, considering factors like path length and network policies. BGP is crucial for maintaining the stability and reliability of the internet.