There are a few significant advantages to using token-based authentication:

• Stateless, Scalable, and Decoupled: each token is self-contained, containing all the data required to check its validity
• You can store additional data in the token itself - for example, roles, access privileges, and other data, as long as it is valid JSON data
• Mobile ready - tokens are easy to implement in mobile and IoT applications
• Easy to maintain
• A token-based authentication approach with CORS enabled makes it easy to expose APIs to different services and domains

When it comes to disadvantages however, these are the ones to consider:

• JWT tokens can be large in size
• If the token is placed in the browser's local storage it can be prone to XSS attacks
• Tokens cannot be used to authenticate a user in the background on the server since no session exists on the database level