I think the 2nd method is best as i see it ceover the inside braid completely unlike other braiders having a hard time covering the under braid. Good job!
The second braid looks more uniform or even throughout the braid. I love that one the most. Although I like the overall braid on the first one...the start of the braids look to skinny compared to the rest of the braid. Beautiful style great work!
I’ve been doing pancaked (distressed) braids for 10 years, and I always prefer to pancake as I go, it puts less tension on the hair, and you get done quicker.