Which UUID version to use?

There are two different ways of generating a UUID.

If you just need a unique ID, you want a version 1 or version 4.

Version 1: This generates a unique ID based on a network card MAC address and current time. If any of these things is sensitive in any way, don't use this. The advantage of this version is that, while looking at a list of UUIDs generated by machines you trust, you can easily know whether many UUIDs got generated by the same machine, or infer some time relationship between them.

Version 4: These are generated from random (or pseudo-random) numbers. If you just need to generate a UUID, this is probably what you want. The advantage of this version is that when you're debugging and looking at a long list of information matched with UUIDs, it's quicker to spot matches.

If you need to generate reproducible UUIDs from given names, you want a version 3 or version 5. If you are interacting with other systems, this choice was already made and you should check with version and namespaces they use.

Version 3: This generates a unique ID from an MD5 hash of a namespace and name. If are dealing with very strict resource requirements (e.g. a very busy Arduino board), use this.

Version 5: This generates a unique ID from an SHA-1 hash of a namespace and name. This is the more secure and generally recommended version.

If you want a random number, use a random number library. If you want a unique identifier with effectively 0.00...many more 0s here...001% chance of collision, you should use UUIDv1. See Nick's post for UUIDv3 and v5.

UUIDv1 is NOT secure. It isn't meant to be. It is meant to be UNIQUE, not un-guessable. UUIDv1 uses the current timestamp, plus a machine identifier, plus some random-ish stuff to make a number that will never be generated by that algorithm again. This is appropriate for a transaction ID (even if everyone is doing millions of transactions/s).

To be honest, I don't understand why UUIDv4 exists... from reading RFC4122, it looks like that version does NOT eliminate possibility of collisions. It is just a random number generator. If that is true, than you have a very GOOD chance of two machines in the world eventually creating the same "UUID"v4 (quotes because there isn't a mechanism for guaranteeing U.niversal U.niqueness). In that situation, I don't think that algorithm belongs in a RFC describing methods for generating unique values. It would belong in a RFC about generating randomness. For a set of random numbers:

chance_of_collision = 1 - (set_size! / (set_size - tries)!) / (set_size ^ tries)

That's a very general question. One answer is: "it depends what kind of UUID you wish to generate". But a better one is this: "Well, before I answer, can you tell us why you need to code up your own UUID generation algorithm instead of calling the UUID generation functionality that most modern operating systems provide?"

Doing that is easier and safer, and since you probably don't need to generate your own, why bother coding up an implementation? In that case, the answer becomes use whatever your O/S, programming language or framework provides. For example, in Windows, there is CoCreateGuid or UuidCreate or one of the various wrappers available from the numerous frameworks in use. In Linux there is uuid_generate.

If you, for some reason, absolutely need to generate your own, then at least have the good sense to stay away from generating v1 and v2 UUIDs. It's tricky to get those right. Stick, instead, to v3, v4 or v5 UUIDs.

Update: In a comment, you mention that you are using Python and link to this. Looking through the interface provided, the easiest option for you would be to generate a v4 UUID (that is, one created from random data) by calling uuid.uuid4().

If you have some data that you need to (or can) hash to generate a UUID from, then you can use either v3 (which relies on MD5) or v5 (which relies on SHA1). Generating a v3 or v5 UUID is simple: first pick the UUID type you want to generate (you should probably choose v5) and then pick the appropriate namespace and call the function with the data you want to use to generate the UUID from. For example, if you are hashing a URL you would use NAMESPACE_URL:

uuid.uuid3(uuid.NAMESPACE_URL, 'https://ripple.com')

Please note that this UUID will be different than the v5 UUID for the same URL, which is generated like this:

uuid.uuid5(uuid.NAMESPACE_URL, 'https://ripple.com')

A nice property of v3 and v5 URLs is that they should be interoperable between implementations. In other words, if two different systems are using an implementation that complies with RFC4122, they will (or at least should) both generate the same UUID if all other things are equal (i.e. generating the same version UUID, with the same namespace and the same data). This property can be very helpful in some situations (especially in content-addressible storage scenarios), but perhaps not in your particular case.

Postgres documentation describes the differences between UUIDs. A couple of them:

V3:

uuid_generate_v3(namespace uuid, name text) - This function generates a version 3 UUID in the given namespace using the specified input name.

V4:

uuid_generate_v4 - This function generates a version 4 UUID, which is derived entirely from random numbers.

Since it's not mentioned yet: you can use uuidv1 if you want to be able to sort your entities by creation time without a separate, explicit timestamp. While that's not 100 % precise and in many cases not the best way to go (due to the lack of explicity), it comes handy in some scenarios, e.g. when you're working with a Cassanda database.