U.S. Markets close in 2 hrs 11 mins

Deloitte Ditches Ethereum for VeChain, Brags about Overtaking Bitcoin Transactions

P. H. Madore
Deloitte is abandoning the Ethereum blockchain by moving its client work to VeChain. | Source: Shutterstock

By CCN.com: VeChain, which uses Proof of Authority rather than Proof-of-Work, clocked in more transactions than Bitcoin on Saturday. A Reddit user noticed and raised the celebratory alarm; Deloitte executive Cillian Leonowicz then claimed the activity via LinkedIn, writing:

We wrote more transactions than Bitcoin over the weekend by migrating our client work from Ethereum to VeChain – we managed to execute 20+ smart contract transactions per second.

Deloitte, BMW, and PwC Choose VeChain

‘Big four’ services giant Deloitte announced a week ago that it would be moving away from Ethereum, onto VeChain, following a similar move by PricewaterHouseCoopers.


BMW has also recently begun building on VeChain. The transaction news follows an announcement by Jaguar Land Rover, in which the luxury automaker is utilizing the IOTA blockchain for a cryptocurrency solution.

It seems the gist of the week is significant companies building on lesser-known platforms, as opposed to Ethereum. Major companies have also looked past EOS and Tron. VeChain bills itself as an enterprise-ready solution. Several announcements were made last week at a VeChain conference.


Read the full story on CCN.com.