Nofollow links are those where you are linking to a website you don't trust 100% and want to tell search engines that "Geez... you know, I might have linked to that website but I don't exactly trust it.". However, being a software developer myself, I am willing to take a bet that Google engineers will consider a website to be good when it has a balanced number of nofollow and dofollow links and not only a certain type of links which might actually go against Google Webmaster guideliens.
Google has also said that they will still count the nofollow link as an outgoing link in terms of the distribution of page rank from your page.
When another website links to yours with a standard link, it can directly affect search engine rankings.
However, nofollow links include a small piece of code, called an attribute, that lets search engine bots know not to follow the link and not to pass any link equity. It looks like this: rel="nofollow".
Nofollow is usually not considered as an honest practice, but you'll use it for those sites which you are doing not want to urge counted or get indexed by the crawler. you'll see these Nofollow links but they are doing not assist you in improving the ranking or page count of your website.
Hope You Find This Useful,
No Follow: A no-follow link, on the other hand, is an attribute that is added to a link and tells search engines not to pass on any link juice or ranking value from the page that is being linked to the page that is being linked to. It advises web crawlers to overlook the connection regarding Web optimization. To combat spam and give website owners more control over the outbound links on their sites, no-follow links were introduced. They are frequently put to use for paid advertisements, user-generated content, or links that website owners don't want search engines to take into account for ranking purposes.