D-Wave is doing adiabatic quantum computation. It's quantum analog computer. Comparable classical electric analog computers were last used in 50s or 60s.
There is no consensus whether D-Wave actually provides clear quantum speedup or not.
Rønnow TF, Troyer M, Wang Z, Job J, Boixo S, Isakov SJ, Wecker D, Martinis JM: Defining and detecting quantum speedup, Science, 19 June 2014,
http://science.sciencemag.org/content/345/6195/420
doi:10.1126/science.1252319