Vue.js: What is the difference between emit and v-on in Vue?

1<script setup>
2const emit = defineEmits(["update", "delete"])
3
4function handleClick() {
5    emit("update", "new value")
6}
7</script>
8
9<template>
10    <button @click="handleClick">Click</button>
11</template>

1<template>
2    <Child @update="handleUpdate" @delete="handleDelete" />
3</template>
4
5<script setup>
6function handleUpdate(value) {
7    console.log("Updated:", value)
8}
9
10function handleDelete(id) {
11    console.log("Deleted:", id)
12}
13</script>