Thanks Maximus, for explaining it further to Apaullo.
Awareness regarding the use of Dofollow and Nofollow attribute is increasing day by day, and people have started realizing the importance of Dofollow attribute in terms of SEO for their website.
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Power of SEO

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So aayushjindal, using both dofollow and nofollow will greatly cause traffic to the site right.
Yes Mariesheila, Dofollow links will increase the traffic for that particular website.
Amount of traffic totally depends on several factors, including the rank of the site.
If you have a backlink i.e. a Dofollow link from a high page rank site, then there are high chances that traffic to your website will also increase.
That is one of the main purposes of Dofollow attribute.
In plain words, it is similar to networking business, if you have a good backup (high ranked website have your web link) then most probably that followers of that site will check on your site as well
Spread the word of your site from other popular forums and it will go huge in no time
Dofollow links creates more and more traffic to your websites. Dofollow forums are also very useful for the SEO because you get more and more backlinks for your site that will increase traffic to your site.
Dofollow blogs is important to get backlinks. Generally bloggers love to comment on dofollow blogs. They want to improve their sites backlinks by commenting on dofollow blogs.
But first you have to know the difinition of dofollow & nofollow.
Dofollow Blog:
A dofollow blog allows search engine spiders to crawl the site and follow the link. If you comment on a dofollow blog, a backlink will be created so search engine spiders will crawl your link back to your site & it brings SEO benefits for your site.
Nofollow Blog:
Nofollow blog is complete opposite of Dofollow blog. It doesn’t allow search engine spiders to crawl site and follow the link. If you comment on a nofollow blog, search engine spiders will not crawl your link and will not follow your link back to your site & it brings no benefit on SEO for your site. So it is useless to comment on nofollow blogs.
If you build your site with wordpress, you can easily make your site dofollow. You need to install a plugin – sem-dofollow.
I have no idea about Nofollow Blogs...how can you make your blog a DoFollow Blog? It will greatly help generate traffic and backlinks.
With the right add-on/plugin, you can make all new links on your Blog no-follow. You can also set exceptions for specific links.
Yeah, if I were a selfish person I would make it all a NoFollow Links in my blog

By the way, can you actually tell if the website you are posting or visiting is a NoFollow site?
You can find out, if a website is do/no-follow very easy. I will give an example with Firefox. Go to the targeted website and select a part of the website with a backlink. Press your right mouse button, and select ``view selection source``. A new window will open with the html code of the selected area. Find the link in that window, and check the ``rel``. The ``rel`` (attribute) will be either do-follow or no-follow. That was easy, right?