Recently i was searching in Google and suddenly i got this word pagerank evaporation. Is it a SEO component? Is yes then please let me know.
PageRank Evaporation is common when doing PR Sculpting. See more: http://www.highrankings.com/forum258
Nofollow attribute, will not be getting anymore link juices to flow and follow the links on the page. Instead, the PR will be wasted and evaporates into nothing which should have been passed.