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Nofollow link is exactly vice-versa of dofollow link. These are non-crawling link which are not passed by search engines bot and hence can�t be cached or indexed. It is obvious when we wish to prevent a link from crawling and indexing.
Dofollow link is a kind of hyperlink which says all search engines crawlers to pass through which also put an impact over page rank. When we opt to employ or attempt to achieve a dofollow link then it is counted by search engines and sits in the eye of Google, Bing, MSN, Yahoo etc. as a backlink for your website and enhances your site ranking.
Hope this will help you!!
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