The principal of two-point perspective is essentially the same as one-point perspective except there will be two vanishing points on the horizontal line as the name suggested. The vertical line remain vertical and parallel in the drawing. All the horizontal lines will appear to converge to two vanishing points on the horizontal line.
Depending on the location of the object in relation to the vanishing points, the pictorial outcome will be varies.
Two-point perspective is commonly use in a perspective drawing. Due to the its nature, two-point perspective helps reveal three-dimensional quality of an object very well such as depicting a three-dimensional ideas of a building. This type of perspective can be used to display three-dimensional quality of interior spaces or courtyard area in architectural design.
When constructing two-point perspective, and to get a better result, it is better to place one of the vanishing points further away from the object, normally somewhere that is not in the drawing area.