well,
I understand the science.. It is a matter of difusion across a give surface area. Each bubble interacts with a give area of water and allow for gasses to dissolve. Also bubbles displace water and thus create currents... in hope.. lifting water.. and mixing..
STU, you're right on the air water interface. But, as I was corrected by Bill Cody long ago, the actual uplifting of the water by the tiny bubbles.\and exposing new water to the surface continuously gives much more air-water interface than just the contact of the water with the bubbles. Waves do similar in larger bodies of water, therefore larger ponds dont need aeration normally. The air diffusers have been specifically designed with many VERY tiny holes or slits to produce more and smaller bubbles which expand under less pressure and uplift vast amounts of water. One well designed and well placed bottom diffuser in 12-15 ft. water can turn over an acre pond several times a day.