Transitioning to a microservices-based architecture involves selecting one of three strategies: the Ice Cream Scoop, the Lego, or the Nuclear Option, each with its own advantages and challenges. The Ice Cream Scoop strategy gradually moves components from a monolithic application to microservices, reducing risk but extending the timeline. The Lego strategy involves building new features as microservices while maintaining the existing monolith, which speeds implementation but retains monolithic issues. The Nuclear Option entails a complete rewrite of the application into microservices, allowing for a fresh start but risking unforeseen complications and potential delays. Successful transition requires careful boundary identification, extensive testing, and clear communication among team members to ensure alignment and reduce friction throughout the process.