Pagerank : More the no. of websites are linking to your domain, higher will be site's pagerank and its the real pagerank. It is updated in real time so if your website gets a few links pointing today, the real pagerank will be increased as soon as the spider will find these links.
Toolbar PageRank: If you install Google toolbar you will see the toolbar pagerank value. Toolbar pagerank is updated only a few times a year.
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