It was after some effort that I could understand what is Page Rank and its relationship with links. Though this tutorial from Google Support has covered the basics quite well, it was more to do with the convincing part rather than understanding.
Check out the article about links from Google Support below.
To sum things up, dofollow or nofollow tells the search engines what to do with the links in your website, once the search bots crawl through your pages and content.
So if an article on this website is referring to content from theTimelock, here is what the link should look like in both text and HTML view.
http://thetimelock.photos/ or just theTimelock
<a href=”http://thetimelock.photos/” target=”_blank” rel=”nofollow”>theTimelock</a>
If it is a nofollow attribute, the Google Search Engine stops at the link and goes no further. But if it is a dofollow link, which also means if it is not a nofollow link then the search engine records it as a score in favour of theTimelock and adds on to the page rank of theTimelock.
This is what is called as inbound links for theTimelock which are the most sought after for increasing the Page Rank of theTimelock. But there is nothing in store, for this website which is having the article and the link to theTimelock.
In fact there is a certain amount of risk for the goodwill this website is generating for theTimelock. If say in the future theTimelock goes rogue or suffers an overall decline in quality standards or simply becomes a spammy website, my old links are still there. I mean who removes links which are months or years old. Google will now penalise me/this website for providing the bad link to their search crawlers and lowering the quality of their search results.
Pretty scary, for Google penalties are severe. So if Page Rank goes, I would rejoice. I would like to acknowledge a good reference, so what if it is going to make an honest mistake in the future.
It is going to be pretty difficult to find a replacement for Page Rank. It is also believed that Page Rank will not be closed down like Google Authorship. Instead, the rankings and ratings will not be available for public. Page Rank is a mathematical formula, and like all formulas, it gives you a definitive result. But if content is to be evaluated, things are bound to get trickier.
An organisation like Google generally knows what it is doing. So if Page Rank is going to go, we are pretty sure that its replacement is going to be bigger and better.