eBGP neighbor with Lo0 subnet

More reliable, especially in case of redundant links.
The Lo0 IP will be reachable using a statically added route.
Since it is not a directly connected network, the eBGP neighborship will go down due to the following default rule:
"Neighbor IP must be directly connected"
Solution:
ebgp multihop 2
>Overrides the “neighbor IP directly connected” rule.
but it also Changes TTL to 2 😣 which introduces another issue — if the direct link between R1 and R2 goes down, the eBGP session will be up via R3.
Juniper relies on BFD (Bidirectional Forwarding Detection).
Configure BFD under BGP — it also allows tuning of failure detection timers for faster convergence.
If the direct link goes down, BFD will not be remained up via the R3 path? No, in our case, BFD operates in single-hop mode, so it will go down and pull BGP down also.
Cisco also introduced another command instead of ebgp-multihop:
neighbor 2.2.2.2 disable-connected-check
With this command, TTL remains 1 and disables the direct-connect requirement.