Python 3 is now the standard for Python programming, but Python 2.7 remains prevalent in many environments, making it essential for developers to write code compatible with both versions. Transitioning from Python 2.x to 3.x involves understanding the key differences between the two, such as changes in string handling and function syntax, and utilizing tools like Futurize and Python-Modernize for assistance. Strategies for compatibility include using the `__future__` imports to ensure forward-compatibility, leveraging `try/except` blocks for imports, and consulting resources like the HOWTO guide and various cheat sheets to navigate the conversion process. Despite potential challenges like increased code verbosity or less idiomatic code, developers are encouraged to adopt Python 3, as Python 2.7 will not receive support post-2020, and investing effort in compatibility can broaden software user bases. Numerous resources exist to aid in this transition, making it an opportune time to engage with Python porting.