The field of keypoint extraction, which is essential for vision applications like Structure from Motion (SfM) and Simultaneous Localization and Mapping (SLAM), has evolved from relying on handcrafted methods to leveraging deep learning techniques. While deep learning approaches have significantly improved performance, they often incur substantial computational costs, limiting their deployment in real-time edge applications. Efforts to create lightweight neural networks have seen some success, yet they often result in trade-offs between efficiency and accuracy. Additionally, the high-dimensional descriptors generated by these networks poses challenges for distributed applications requiring efficient communication and coordination, highlighting the need for compact yet competitively accurate descriptors. In this paper, we present EdgePoint2, a series of lightweight keypoint detection and description neural networks specifically tailored for edge computing applications on embedded system. The network architecture is optimized for efficiency without sacrificing accuracy. To train compact descriptors, we introduce a combination of Orthogonal Procrustes loss and similarity loss, which can serve as a general approach for hypersphere embedding distillation tasks. Additionally, we offer 14 sub-models to satisfy diverse application requirements. Our experiments demonstrate that EdgePoint2 consistently achieves state-of-the-art (SOTA) accuracy and efficiency across various challenging scenarios while employing lower-dimensional descriptors (32/48/64). Beyond its accuracy, EdgePoint2 offers significant advantages in flexibility, robustness, and versatility. Consequently, EdgePoint2 emerges as a highly competitive option for visual tasks, especially in contexts demanding adaptability to diverse computational and communication constraints.