What are the differences between 2 flute and 3 flute router bits, and how do these differences impact their performance and applications in woodworking?

Two Flute router bits have two cutting edges, while three flute router bits have three cutting edges. The number of flutes impacts the speed and smoothness of the cut. Two flute bits are faster but may leave a rougher finish, while three flute bits are slower but provide a smoother finish. Two flute bits are better for roughing cuts, while three flute bits are better for finishing cuts in woodworking.