Serverless Architecture with AWS is the Way to Go!

Pricing

The cost model of Serverless is execution-based: you're charged for the number of executions. You're allotted a certain number of seconds of use that varies with the amount of memory you require. Likewise, the price per MS (millisecond) varies with the amount of memory you require. Obviously, shorter running functions are more adaptable to this model with a peak execution time of 300-second for most Cloud vendors.

Serverless Architecture wins

Networking

Serverless functions are accessed only as private APIs. To access these you must set up an API Gateway. This doesn't have an impact on your pricing or process, but it means you cannot directly access them through the usual IP, snap!

Traditional Architecture wins

Environments

Setting up different environments for Serverless is as easy as setting up a single environment. You no longer need to set up dev, staging, and production machines.

Serverless Architecture wins.

Scale

Scaling process for Serverless is automatic and seamless, but there is a lack of control or entire absence of control. While automatic scaling is great, it's difficult not to be able to address and mitigate errors related to new Serverless instances.

Tie: Serverless and Traditional Architecture.

3rd Party Dependencies

Most, if not all of your projects have external dependencies, they rely on libraries that are not built into the language or framework you use. You often use libraries with functionality that includes cryptography, image processing, etc., these libraries can be pretty heavy. Without system-level access, you must package these dependencies into the application itself.

Reinventing the wheel isn't always a good idea.

Winner : based on the context. For simple applications with few dependencies, Serverless is the winner; for anything more complex, Traditional Architecture is the winner.

Also Read | Top Programming Languages of the Unicorn Startups