Link analysis algorithms at search engines have become increasingly sophisticated over the years. In the early days, the quantity of links was the main factor. Then the relative importance of those pages (i.e. PageRank?) and relevance of anchor text keywords. Modern algorithms now also try to determine the quality of content in the page where the links come from. Inbound links from low-quality pages do little to improve a target page’s rank, and may even worsen it.
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