The danger with any electrolytic treatment of highly stressed steel components is Hydrogen embrittlement.
Thus Galvanising entails dipping the ferrous components into a bath of molten Zinc, (Tapped holes, or studs can be protected by filling/wrapping them with masking tape. To my surprise, this is what Lotus did with their chassis ).
Sherardising entails tumbling the parts with metallic Zinc, whilst in a heated enclosure.
In this way, no electrolysis is involved.
Aluminium can be anodised by electrolysis in a bath of Chromic acid (As the name suggests, the component is the Anode )
I am not advocating this, but Aluminium, or steel, can be passivated by dipping into a bath of concentrated Nitric acid. Nitric acid is such a powerful oxidising agent that it produces a protective oxide film on the surface.
Concentrated Nitric acid is dangerous!
Howard