Is there any reason or performance benefit in having two log files for a single database and on different drives?
Logs are written to sequentially, so only one would ever be used at a time. So, no, there is no benefit from having two on the same database.
EDIT: I looked over the part about different drives. I suppose there could be a need in having two log files if you are working with limited drive space and your original log file would outgrow it's drive and you cannot move it to a larger drive for whatever reason.
You don’t always need a pair.
By default, SQL Server starts each database with one transaction log file. The transaction file is used sequentially, not serially, and there’s no performance benefit to having multiple log files. SQL Server just starts working at the beginning of the first log file, works through to the end of it, and then starts with the next log file.
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