Hi 7rots51,
Benefits (+), drawbacks (-) and evens (=) of Manchester compared with NRZ (taken as a basic reference binary data format):
(=) It has the same theoretical performance (bit error probability vs. bit_energy / noise_spectral_density)
(-) Occuped bandwidth is double than NRZ (the main lobe of NRZ extends up to BR, and Manchester -also RZ- up to BR, BR being Bit Rate)
(+) Its power spectrum is null at DC, so it can be transmitted by non-lowpass channels. This allows the use of transformer coupling without problem. In the case or NRZ or RZ, the 'baseline' would be lost if you have a long string of data without transitions and the channel doesn't pass DC
(+) Synchronization is easy and more reliable because Manchester has al least one transition per bit. So less timing jitter.
Regards
Z