Comparison Matrix

VerInput SourceTime Sortable?UniquenessDB Indexing
v1Time + MACNoMAC AddressTerrible
v4122 Random BitsNoEntropyPoor
v7Unix Time + RandYesTime + EntropyExcellent
v3/v5Namespace + NameNoNamespacePoor
v6Reordered v1YesMAC AddressGood

Why v4 dominates?

It requires zero coordination. You can generate a v4 UUID on an air-gapped toaster and be confident it won't collide with one generated at Google.

Why move to v7?

Database performance. Inserting random v4 UUIDs into a B-Tree index (used by MySQL/Postgres) causes massive fragmentation and I/O overhead. v7 fixes this.

Is v1 dead?

Mostly. Leaking your MAC address is a security risk. v1 is only useful if you absolutely need to know which machine generated a UUID.