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>> What is Yahoo Webrank?
As said by Yahoo, "Yahoo! Web Rank" is a measure of how popular a web page is based on the number of links pointing at it.
Whenever you enable the Web Rank button on the Yahoo! Companion Toolbar, the URLs you visit will be sent to Yahoo! to get it's Web Rank (from 1 to 10). The info sent about the URL is unidentified and DOES NOT include your Yahoo! ID or any personally identifiable information.
According to me, it's not like Google Pagerank in any way, even if Yahoo says it takes links into count I feel it is not the case. They mostly test the popularity of the site from people using their toolbar and use that data to assign a webrank to it, this is an added good feature of yahoo to get into a direct competition with the Big G, and Google is our words.
You can turn off Web Rank at whichever time from the Toolbar Settings menu (pencil icon). When this is disabled, the URLs are no longer sent to Yahoo.
How does the Web rank feature works?
The Yahoo Web Rank feature of the Yahoo toolbar works by gathering anonymous URL data concerning the page you are visiting. This anonymous URL data is sent to the Yahoo! Companion servers, and a Yahoo! Web Rank value (which yahoo knows previously) is returned to the Yahoo! Companion Toolbar as one dimension of the link popularity of the Web page or URL you're visiting.
You'll see a small icon on your Yahoo! Companion Toolbar displaying the Web Rank value (on a scale of 1 to 10) of the site you are now visiting and the web rank is measured by the link popularity of the web page. Mostly I feel Yahoo gives lots of weight to sites in Dmoz and yahoo directory. According to them Dmoz is an expert hub and links from it is credited a lot, we've a site with about 500 backlinks in Yahoo showing a Yahoo webrank of 0. Another site has just 20 links but one link is from a significant category in Dmoz directory that site has a Yahoo web rank of 4 which is actually surprising.
The big bug I saw in the web rank feature of Yahoo is the webrank of Google this is because Google has one of the most powerful backlink on the web however Yahoo says Google's Webrank was 0, which is a Bug in their system. But later it was rectified and currently it shows a webrank 10 for yahoo which is a good sign. Might be Future is good for Yahoo's Webrank feature but right now it is not too much of an SEO attraction.
How To install the Yahoo! Web Rank feature?
First you've to download the Yahoo companion toolbar from Yahoo. As soon as that toolbar is downloaded you've to install the Yahoo! Companion Toolbar, then you'll have the option of enabling the Web Rank feature. If you would like to use it, select the "Install WITH Web Rank" button on the configuration page and the Yahoo! Web Rank feature will be enabled in the installation of the toolbar.
Essential feature of Yahoo webrank is helps in alerting the Yahoo! Search crawler to the existence of a particular site or Web page, and direct a crawler to visit that site or Web page for inclusion in Yahoo! Search if it is not previously in the Yahoo! Search index. This is an essential feature and helps you in possible inclusion in the yahoo index. Yahoo crawler is the second most active crawler on the web and I think you'll have a good faith that Yahoo slurp is triggered by this webrank feature.