What is the difference between EventBus and RxJava?

I am confused about the difference between EventBus and RxJava in android. I need to implement one of them for my issue about notifying some components when some changes have been done, so that they can update their state.
Also, I read that EventsBus has became deprecated over RxJava and I don't know if this information is true or not.

EventBus and RxJava are different in their nature.

EventBus is just a bus as the name suggest - it provides the mechanism to subscribe and publish events to the "bus", without you caring how the wiring is done, what this "bus" actually is, etc. In the context of Android, the EventBus is just an easier way to deal with sending and receiving Broadcast messages with less boilerplate.

RxJava on the other hand is much much more powerful than that. Yes, you can subscribe and publish events, but you have far more control over the process - frequency, on which thread everything happens, etc. The main power of RxJava (in my opinion) is that you can manipulate the data being published very easy, using some of its tons of operators.

To sum up - if you only care about publishing some events and performing some actions when received - you'd probably be better off using the simplest of the two, namely some kind of Bus, or even plain old BroadcastReceivers. If you will also benefit of transforming the data, handling threading or simplified error handling - go for the RxJava approach. Just keep in mind that RxJava generally has a steep learning curve, so it takes some time to get used to its concept.

To understand RxJava, think of a list. Today manipulating a list like transforming, splitting, merging can be done easily using functional methods (map, groupBy, etc). RxJava uses the same principles except that its main target is not list but stream. Stream is asynchronous, often live data such as websocket channel or online movie.

Event bus comes from the needs to decouple classes which in Android are often bound with life cycle. Tight coupling of network callback and Activity's Views as an instance, has been a cause of numerous null pointer exceptions. Event bus with its publisher-subscriber pattern alleviates this issue.

How does it get mixed with RxJava ? To begin RxJava incorporates Observable pattern. Here an Observer watches an Observable and reacts when an event arrives. Observable has several sub-classes, among which is Subject that has the properties of both Observable and Observer. Since it works by trapping an event and publishing it to subscribers, it technically functions as event bus.

Is it wise to use RxJava as event bus ? No. RxJava would introduce unnecessary complexities for simpler purposes. Only use it if the app does manipulate streams. For example pairing frames from a movie stream and subtitles from another stream. If the app simply consumes a REST API and needs to decouple the callback from activities/fragments then event bus is enough.

Live @Vesko wrote, RxJava and event bus differ in their nature and may serve to solve different problems. Nevertheless, there are some scenarios in which both of them can solve the same problem (although at different costs), and this might be the reason for why many people confuse these two concepts.

RxJava is conceptualy similar to Android LiveData that was released not so long ago, and to better understand these concepts, as well as event bus, I suggest you read my post. In the post I go over these very concepts, describing the scenarios in which we should use one over another and the pros and cons of using one rather than the other. I think it may be useful to you:

When and why to use LiveData

If you want to fetch data from sever and update UI, use RxJava + Refrofit. If update UI or do some operation without fetching data, EventBus is enough.