Step 1: The pancreas contains islets of Langerhans, which have specialized hormone-secreting cells.
Step 2: Beta ($\beta$) cells produce insulin, which lowers blood glucose levels by promoting uptake of glucose by cells.
Step 3: Alpha ($\alpha$) cells produce glucagon, which increases blood glucose levels by stimulating glycogen breakdown in the liver.
Step 4: Therefore, insulin is secreted by $\beta$-cells and glucagon by $\alpha$-cells.