What might be the advantages of dividing congress into two houses as described above? What might be the disadvantages?

The Congress has two bodies one is the house of Senate and The other is the House of representatives both have unique yet equal roles in the body.

There are both advantages and disadvantages of having two houses in body advantages being:-

The bill and revenues that are to be passed can be double checked by the members of the two houses so it is less likely that there are mistakes or flaws in the bills passed.

when the disadvantage is:-

Even a Bill meant for a good cause has to go through both the houses and chances clashes increases and when the houses are opposing it is hard for such bills to be passed.