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Updated
Mozilla Firefox is a free and open-source web browser developed for Windows, OS X, and Linux, with a mobile version for Android.
SpecsUpdate
Pros
Pro Fairly low on resource usage
Firefox 57 (Quantum) and newer uses less resources than ever. It is proven with benchmark done by AppleInsider.
Pro Uses less resources
Firefox 57 (Quantum) and newer uses less resources than ever. It is proven with benchmark done by AppleInsider.
Pro Ethical and pragmatic company mission
The Mozilla Manifesto outlines the company's mission and principles. Paraphrasing, they want the Internet to be a free and open resource, and to enable individuals to get the best use of that resource. They do this by creating open source software to which anyone may contribute, so long as such contributions fit with their principles (both ethical and technical).
Pro Android version allows installation of addons
Unlike other browsers, Mozilla uses almost the same codebase as with the desktop version so extensions work as-is without code modifications - something other browsers cannot do due to their breaking and sometimes unrelated code branches to the mainline desktop branch.
Cons
Con Poor performance on SSD even without extensions
On a fast SSD such as Corsair Force LE series this browser still performs as if it were installed on a regular hard drive disk, meaning it takes long time to start, even without any extensions. On that matter Google Chrome is light years ahead of Firefox. This applies only for Firefox versions below 60!
Con Installing some extensions still requires restarting the browser
While some of the developers already allow users to install their extensions without the need to restart the browser, not all of the extensions have been updated to support non-restart installation yet, as some developers have yet to add special code to do so.
Recommendations
Comments
Flagged Pros + Cons
Pro HTML5 Video Preload
The only web browser that only preloads entire HTML5 video which is useful for slow internet.
Pro Easy screenshots without extensions
Within the browser itself, you can easily take screenshots and save them to your computer.
Pro Really independent browser (not true)
While it used to be, it now is partnering with google and censoring voices. Try switching to something else.
Con When you search in a website (Ctrl + F) there are no marks appearing in the right scrollbar.
All Chromium based browsers have this feature.