A method for imparting wear- and corrosion-resistance to a metal component comprising overlaying the component with a ductile Co-based alloy comprising between about 0.12 wt % and about 0.7 wt % C, between about 20 wt % and about 30 wt % Cr, between about 10 wt % and about 15 wt % Mo, between about 1 wt % and about 4 wt % Ni, and balance of Co, without forming cracks during the alloy's solidification.