H2O + Fe FeO + H2 Fe Fe Fe Fe Fe Fe Fe Fe Fe Fe Fe Fe Fe Fe Fe H2O H2O H2O H2O H2O H2O H2O
Fe Fe Fe Fe Fe Fe FeO Fe FeO Fe FeO FeO FeO
H2O H2O H2O H2O H2O H2O
In an unprotected boat, the oxygen in the water can combine with the iron in the boat to create rust, which is much weaker and will cause damage to the boat. In an electroplated boat, the oxygen cannot combine and therefore does not create rust, protecting the boat.