Alloy, protective coating for protecting a structural member against corrosion and oxidation at hig

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Alloy comprises chromium (40-46, preferably 42-44 wt.%), yttrium (0.2-0.8, preferably 0.4-0.6 wt.%) and/or an equivalent metal from scandium or rare earth elements, and the rest of cobalt. Independent claims are included for : (a) protection layer (7) comprising the alloy for the protection of a layer system (1) from corrosion and/or oxidation, preferably at high temperatures; and (b) a gas turbine layer system comprising the protection layer.