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Are you sure it's chainsaw and not hacksaw(or bandsaw)? Because I don't believe a chainsaw blade would be big enough to make a knife out of.
As far as hacksaw(or bandsaw, I forget which), I believe those are M2 steel at high hardness, from what I last heard.
A blade made from a chain saw chain would be forged and folded a number of times together with another harder steel to make a "Damascus" type billet which would be used to make a blade. Has been done for years with any number of metal objects.--I don't think anybody said anything about making a blade from chainsaw chaps.--KVWhy someone would attempt trying to make a knife blade out of a chainsaw chain is quite beyond me, but whatever floats your boat. And as far as making a blade out of chainsaw chaps.....
and 8 years later.........