i know that bing and the yahoo both using the same algorithm to provide the search result but my question is that what is the algorithm that bing using
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NONE of the search engines publish their algo - that would be like inviting people to spam them.
The closest they will ever come to telling you is their webmaster guidelines or their official forums and blogs - like this post on how they flag spam. Other than that, the only way to figure anything out is to set up your own experiments and see what the data tells you.
People who have taken the time and effort to do those experiments and case studies are understandably reluctant to share details publicly or with those who haven't lifed a finger to add to the knowledge.
FYI, done properly, links still work just finel on Google ...