Distance vector vs. Link state

A distance vector protocol shares everything it knows but only with
directly connected neighbors.

Link state protocols announce information only about their directly
connected links, but they share the information with all routers in their routing domain or area.

From book Routing TCP.IP

Bellman–Ford algorithm is used in distance-vector routing protocols

1. Each node calculates the distances between itself and all other nodes within the AS and stores this information as a table.
2. Each node sends its table to all neighboring nodes.
3. When a node receives distance tables from its neighbors, it calculates the shortest routes to all other nodes and updates its own table to reflect any changes. 

http://en.wikipedia.org/wiki/Bellman%E2%80%93Ford_algorithm