Black Hat SEO or Spamdexing is a type of SEO (search engine optimization) and is the process of using the different technique, SEO strategies and other tactics aggressively so that the website can enjoy a better ranking with the search engine. In this type of SEO, the person is concerned about SEO only and may not consider whether the information given on the page is relevant to the users or not. The page may be over stuffed with SEO keywords and may invisible text that can be read by the crawler. This kind SEO is not made according to the search engine's guidelines and is only focused on SEO.
Using Black Hat SEO for getting quick financial return is not considered to be ethical and may actually get your website banned by the search engine. It is best to avoid this kind of SEO practice as it is fruitful in the long run. It is generally used by people who just need to get high financial returns and are not affected by being banned from the Search engines. Thus this kind of SEO is considered by sites which are looking for short term gains and they use keyword stuffing in the webpage to appear in the search engine's result.
Link farming refers to an internet marketing tool in which a website can use a link to divert its own traffic to another website. It helps the publisher to get revenue by advertising the link and is considered to be effective in promoting one's website. Link farming is considered to be useful for the publisher and the advertiser. The former gets to earn revenue while the latter gets to promote his website and get more traffic at it. It can create links between different related websites and market them. Using link farming enables websites to get better ranking also as the page rank does consider the back links while calculating the website's ranking.
To gain better traffic through link farming the advertiser should try to advertise the link on a site that is relevant to it and enjoy a good traffic as well. The publisher that you choose should have a good traffic as that ways you may be able to divert a percentage of that traffic to your own website. It is best to avoid a spam website which is full of links because in this case the link is not considered by the search engines and you may not be able to get the desired traffic as well.
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