Abstract: Disclosed is a hardfacing alloy deriving its usefulness from carbides and borides of molybdenum and niobium. The alloy does not rely on chromium as an alloying agent. The hardfacing alloy is capable of being applied to a number of industrial substrates in a crack-free manner, and once applied convert the substrate to a wear- and abrasion-resistant material having an extended service life, even when subjected to harsh wear conditions.