So Linked list provides the following two advantages over arrays
1) Dynamic size
2) Ease of insertion/deletion
Linked lists have following drawbacks:
1) Random access is not allowed. We have to access elements sequentially starting from the first node. So we cannot do a binary search with linked lists.
2) Extra memory space for a pointer is required with each element of the list.
3) Arrays have better cache locality that can make a pretty big difference in performance.