PageRank is only used by Google. It is a ranking system developed by Google, based on the number and quality of incoming (back links) to a web page. PageRank is at the heart of Google's ranking algorithm.
Yahoo and MSN have their own propriety algorithms which also rely heavily on the number and quality of links.
Indications are that Yahoo and MSN is not as concerned about link relevancy as Google and both tend to show more incoming links to a site than Google. Lately it seems that Google is differentiating even more between quality relevant links and links from bogus web sites. This may actually lead to a decrease in your Google PageRank.
Bottom line - the same high quality links that will contribute to a PageRank™ increase, will also be calculated in your site's Link Popularity.
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