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Walnut is a fairly wet wood. It takes a long time to dry to the percentage you need for knife handle ( 7-10%). I would say at least two years, depending on the drying conditions and flitch size. It checks badly. I disagree with Ray on the point about sawing it into handle size blocks. They would crack to uselessness, IMHO. Keep it fairly big, 3" slabs, and coat the ends as soon as it is cut.
Stacy
When working with handle size blocks for either stck tangs or scales I've cut them just oversize and then microwave for like only a min. at a time (or you will start a fire inside the wood) to check for total dry put in a ziploc for the last cycle- no vapor= dry. I've done handles like this green off the saw, and slinging water, and finished them in under a week with zero movement
Something in the wood can tan your hide purple.