I am dealing with communication between microservices.
For example (fictive example, just for the illustration):
It all depends on your service's communication behaviour to choose between REST APIs and Event-Based design Or Both.
What you do is based on your requirement you can choose REST APIs where you see synchronous behaviour between services and go with Event based design where you find services needs asynchronous behaviour, there is no harm combining both also.
Ideally for inter-process communication protocol it is better to go with messaging and for client-service REST APIs are best fitted. Check the Communication style in microservices.io
REST based Architecture
Advantage
Request/Response is easy and best fitted when you need synchronous environments.
Simpler system since there in no intermediate broker
Promotes orchestration i.e Service can take action based on response of other service.
Drawback
Services needs to discover locations of service instances.
One to one Mapping between services.
Rest used HTTP which is general purpose protocol built on top of TCP/IP which adds enormous amount of overhead when using it to pass messages.
Event Driven Architecture
Advantage
Event-driven architectures are appealing to API developers because they function very well in asynchronous environments.
Loose coupling since it decouples services as on a event of once service multiple services can take action based on application requirement. it is easy to plug-in any new consumer to producer.
Improved availability since the message broker buffers messages until the consumer is able to process them.
Drawback