What are the advantages and drawbacks of mealy and moore machine?

Advantages and drawbacks:

Into Mealy as the output variable is a function both state and input, changes of state of the state variables will be delayed regarding changes of signal level into the input variables, there are possibilities of glitches appearing within the output variables. And Moore overcomes glitches as output dependent onto only states and not the input signal level.

Each of the concepts can be applied to Moore-model state machines since any Moore state machine can be implemented by a Mealy state machine, though the converse is not fact.

Moore machine: the outputs are properties of states themselves... that implies that you get the output after the machine reaches an exact state, or to acquire some output your machine has to be taken to a state that provides you the output. The outputs are held till you go to some other state.

Mealy machine: Mealy machines provide you outputs instantly, which are instantaneously upon receiving input, but the output is not held after which clock cycle.