In a breaking new story that was first revelaed to us from Jim Hedger of WebmasterRadio, that Google has just announced that only a day after launching the implementation of the +1 Button that plans for the widespread implementation of the new feature would have to be scrapped indefinitely.
In a quickly press release from Google, Eric Schmidt stated that the new feature would be "far too easy to game as a ranking signal," and that "it has become abundantly clear that would have serious repercussions as far as rankings were concerned and that we cannot in good conscience, release this feature at this time."
The new +1 button was an attempt to allow users to upvote items of interest that they find on the web. The new button would appear on search results, on ads and sites across the web. Google did not go in to any specifics of the potential exploit but concluded that once they determine how to correct the problem, “we may consider continuing the development of the button.” What happens next is anobody’s guess.
Read Google’s offical press release here.