L2 cache, or Level 2 cache, is a type of memory located between the CPU and main RAM that stores frequently accessed data and instructions to speed up processing. It serves as a second layer of cache memory, following the L1 cache, and helps reduce latency by providing quicker access to data than retrieving it from the slower main memory. The design of L2 cache plays a crucial role in optimizing performance through effective mapping and replacement policies.
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