Advantage:
Almost no downtime! While upgrading, the database would be read only.
Easy to perform the upgrade.
Upgrade the databases in any order.
Disadvantage:
No settings, services, or customizations are upgraded or moved.
A database attach upgrade takes less time to complete but requires more time to be spent on manually moving and adding settings, permissions, and customizations.
High Level Procedure:
1. First set up new SharePoint Foundation server or farm, and then set the old farm databases to read-only.
2. Back up content databases, and restore them to the new SharePoint Foundation ser