Time-Driven vs. Event-Driven Systems
The principal difference is given by how the time is seen, both are dynamical systems but for the time-driven systems, as the name suggest the time is what guides the states of the system and its evolution. While for the event-driven systems the time is only a variable, what really guides the system are the events, which are typically asynchronous.
Also the time-driven system is usually modeled by differential equations, instead the event-driven sytem is non-differentiable.
Definition of ‘Event’ Definition of ‘Dynamical System’ Definition of ‘Discrete-Event Dynamical System’