The use of links as a Ranking factor has been around for some time but Google's PageRank implementation, first used by Google in 1998 in its search engine algorithm is focused on the idea that any links to a page could be considered as "votes" for that page and so the more links to the page the higher it should be ranked. But PageRank does not consider the relevancy of the link, and in fact, is really only a small part of the Google algorithm at this time.
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