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Ned Scott

Ned Scott

Co‑founder and former CEO of Steemit · Steemit Inc.

Defined the social-reward model, open‑sourced Steem code and token economics used by Steem-derived chains

Provided the reference implementation and economic design for blockchain social media platforms through the public launch of Steem and Steemit. The open‑sourced Steem codebase, governance decisions on reward pool distribution, mechanisms for vesting (Steem Power) and curation rewards were concrete artifacts published and operated under his leadership at Steemit Inc. Those artifacts were reused, forked and served as a direct technical and economic blueprint for subsequent social chains that sought on‑chain content monetization. The published reward curve, daily reward pool calibration and the separation between liquid token and vested influence are specific design decisions originated in Steem’s early releases. Scorum’s initial protocol and token‑reward logic incorporated adaptations of these mechanisms; engineers and economic designers on Scorum referenced Steem’s implementation when setting block‑reward schedules, curation parameters and content payout flows. Licensing and the public code repository made this reuse practical and verifiable. Operational steps taken under his tenure — running the Steemit platform, coordinating witness/witness‑vote models and documenting tokenomics — had downstream effects on how competitor projects evaluated community incentives and governance. Scorum’s team explicitly compared Steem’s reward distribution and content curation model when creating its own staking, rewards and author/curator share splits, leading to observable similarities in on‑chain payout cadence and community moderation mechanics. The combination of an open codebase, documented economic rules and a live production deployment provided a low‑friction template that materially accelerated the technical and economic design choices of Scorum. Those concrete deliverables and public policy decisions constitute the primary channel through which influence flowed from Steemit’s original leadership to Scorum’s project design and early market positioning.

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