Oneshoot, Multishot and DSHOT are ESC communication protocol. The past few years have been very active regarding the development of ESC communication protocols. Every few month a new "revolutionary" protocol was being released. 

Up until recently (end of 2016), all the ESC protocols for racing drone were exclusively analog and every new release was focusing on developing a faster protocol. 

Analog protocols can be classified as follow, from the slowest to the fastest:

- Oneshot125

- Oneshot 42

- Multishot

Digitial protocol, from the slowest to the fastest:

- DSHOT150

- DSHOT300

- DSHOT600

Are digital commnication protocols better and faster than analog ones ?

Current analog protocols perform extremely well but the digital protocols are going to become the standard. There is no real cutting edge or gap between the two technologies at the moment. Some competition pilots still use analog protocols and even Multishot (analog) is on par with DSHOT600 (digital) regarding speed.
The protocol  "speed race" is not that relevant anymore (it was at the beginning).

Keep in mind that many parameters can affect the flight characteristics of a racing drone (gyro speed, video latency of the system from FPVcam to Vtx and Rx, motor/prop delay, inertia, etc.). Proper tuning, balancing, motor/prop matching, filtering and vibration reduction are much more important than gaining a micro second here and there...

Can I use any protocol with my ESC ?

It depend of your firmware (BLHeli or BLHeli-S) and ESC version. Some ESCs hardware can not go beyond Oneshot, some do Multishot while the latest version are now compatible with DSHOT.

The latest TBS BulletProof 25A (BLHeli-S) are compatible with DSHOT600 as well as all the other analog protocols.