We present a novel partially synchronous system model, which augments the asynchronous model by a (possibly unknown) bound Θ on the ratio of longest and shortest end-to-end delays of messages simultaneously in transit. An upper bound on those delays need not exist, however, and even Θ may hold only after some unknown global stabilization time. Θ-algorithms are fully message-driven and do not have access to bounded drift local clocks, which makes them particularly suitable for VLSI Systems-on-Chip, for example. In this model, we provide a simulation of (eventually achieved) lock-step rounds, which even works in the presence of Byzantine failures. It follows that most problems in distributed computing have a solution in our model: Using the basic consensus algorithm for partially synchronous systems by Dwork et al. (J ACM 35(2):288-323, 1988), for example, Byzantine consensus can be solved. We also introduce a timing transformation technique that facilitates simple correctness proofs and performance analyses of Θ-algorithms, and provide a detailed relation of the Θ-Model to other partially synchronous system models.Supported by the FWF project Theta (proj. no. P17757-N04) and the BM:vit FIT-IT project DCBA (proj. no. 808198).