Bike brakes have evolved. Here’s what’s out there now.

Rim Brakes
Pads squeeze the wheel rim. Traditional, simple, light. Still works fine for road riding.
Caliper brakes on road bikes. V-brakes on older mountain bikes. Cantilevers on some cyclocross.
Downside: poor in wet conditions. Rim wears over time. Limited tire clearance.
Mechanical Disc
Cable-actuated disc brakes. Pads squeeze a rotor instead of rim. Better wet weather performance.
Heavier than rim brakes. Require different wheels. But more consistent stopping power.
Good budget option. Easier maintenance than hydraulic. Cables stretch and adjust like regular brakes.
Hydraulic Disc
Fluid instead of cables. More powerful, more modulation. Self-adjusting as pads wear.
Standard on mountain bikes now. Increasingly common on road and gravel. Better performance, higher cost.
Bleeding required occasionally. More complex maintenance but less frequent.
What To Choose
Road riding, dry climates? Rim brakes still fine. Light and simple.
Mountain biking? Hydraulic disc, no question. The control is necessary.
Commuting, all-weather? Disc brakes of either type. Worth the weight for reliability.
The Trend
Everything moving to disc. Rim brake road bikes becoming rare. Good for used deals if you don’t mind the tech.