Final answer:
Protons define an element's atomic number and identity, while valence electrons influence its chemical properties such as reactivity and bonding.
Step-by-step explanation:
Protons determine an element's identity by defining its atomic number, which is unique to each element. The atomic number is the number of protons in the nucleus of an atom, and it's this characteristic that distinguishes one element from another. For instance, carbon is defined as an element with six protons; no other element has exactly six protons in its atoms.
On the other hand, valence electrons determine an element's chemical properties by affecting its reactivity and the types of chemical bonds it can form. The arrangement of valence electrons influences how an element interacts with other substances, leading to formation of molecules and compounds. Elements in the same group of the periodic table typically have similar valence electron configurations and therefore similar chemical properties.