Since Version 4 UUIDs use a random set of generated numbers, duplication is possible, but highly unlikely. It is generated using random numbers and no logic, which is why Version 4 UUIDs are not typically used if you need to generate a unique ID that is time-sensitive.
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Version 4 UUIDs are common unique identifier used by software developers, usually when debugging. Version 4 is often considered the most common ways to generate a UUID.
Version 5 UUID: Which uses an SHA-1(Secure Hash Algorithm 1) hash of a namespace and name to generate a UUID. Version 4 UUID: Which uses random numbers to generate a unique UUID. Version 3 UUID: Which uses an MD5 (Message Digest Algorithm 5) hash of namespace and name to generate a UUID. Version 1 UUID: Which uses a timestamp and the MAC address of the computer it was created from to generate a UUID. There are four different types of UUID's, including: It is a 128-bit value used in software development to identify unique values. UUID stands for Universally Unique Identifier. The reason UUID's are considered to be unique indefinitely is because they either use timestamps or a random string of numbers that will never be reproduced in exactly the same way ever again. This string of bits is most commonly used in software development and is designed to be unique both now and in the future. 
It is a binary digit (also known as a bit) that has a 128-bit value. A UUID (Universally Unique Identifier) is a value used to identify uniqueness.
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