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1.
the process by which a web link becomes broken or irrelevant as time goes on
The site was plagued with link rot.
by The Return of Light Joker April 24, 2009
 
2.
The decay of web links as the target sites they connected to are moved or deleted.
"This site sucks - nothing works, it's all linkrotted away."
by tgjerusalem December 02, 2008