In this chapter we review a large set of the research results related to formation and characterization of bulk nanocrystalline and nanocomposite alloys produced by crystallization of an amorphous/glassy phase or directly from the melt on cooling. The formation of bulk glassy alloys and their processing routes are also outlined. Nanocrystallizing glassy samples leads to the formation of composites containing nanoscale crystalline or quasicrystalline particles. The structure, general physical, thermal, mechanical and magnetic properties of these nanostructured materials are discussed. Some of these composites possess a better combination of mechanical properties than those of fully glassy or crystalline alloys. For example, nanoscale crystalline and quasicrystalline phases play a very important role in ductilization of bulk glassy alloys. Nanostructured ferromagnetic alloys and glassy-nanocrystal composites possess good soft magnetic properties and create an important application area for such materials.
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