Faring your canoe bottom is not difficult and can be done in a few hours with simple hand tools and under $50 in materials. Turbulence eats up energy and can slow your boat down. It has been known for some time that a 2-in. scratch on a smooth surface can generate turbulence for 10 to 12 inches as water flows over the scratch. If you have an older watercraft your bottom is probably not perfectly smooth any longer.
First, use a 100 grit sanding sponge or palm sander containing purple 3M-type paper to clean the bottom. Next, get out the glazing compound. You will need one or two tubs for an older boat. Use the plastic putty knife that comes with the glazing compound right out of the tub and fill in your nicks on the bottom. No mixing is required. Your glazing compound does not need to be perfectly flat because it sands easily to flush it up with the existing boat bottom. Allow the glaze to harden for about an hour and sand off with your sponge or palm sander. Repeat the process until the bottom is smooth.
Now, seal the bottom with Teflon Urethane. Teflon is the largest molecule known. A molecule that has a lower drag coefficient than ice. Smooth Sailing Boat Bottom Urethane Teflon Paint has three color choices: white, navy blue and charcoal.
Finally, use blue tape to mask off the water line. Mix the urethane and hardener 3 parts A to 1 part B hardener and apply with a 9 in. Mohair 3/16 nap roller. To keep the product as fluid as possible I like to put it in a squirt bottle and apply a little urethane directly on the bottom then wet the roller spreading the urethane out as thin as you can. By the time you get to the end of the boat you can probable start over with your second coat. If you see some bubbles as you go just back roll over them again to release the pressure build up. After two coats (about 400 CC of material) let harden for 5 hours, sand off imperfections and proceed with your final coat. If you get any drips over your make or side of the boat just wipe off with thinner while the urethane is still wet. You should get your final coat on within 10 hours of the first coat to assure quality adhesion. If you get any orange peel or if the bottom is not as smooth as you like get out that wax orbital buffer and some light rubbing compound to smooth to that glass finish.