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All you  need to know about knife Steels:

Here is a link to an excellent page on many of the different steels used to make knives today.  There will always be a debate about which steel is better.  It really comes down to what your intended use of that particular knife is.  Many bushcraft and hard use outdoor camp type knives are made for 1095 or other 10XX series steels.  These are great because of the ease of sharpening them.  They can be sharpened with a hard stone, ceramic coffee mug, toilet lid, even mud and cardboard.  They are very tuff steels and take abuse and impact well. The drawback is the need sharpening more often and they will rust.  They should be coated with a corrosion resistant material - ceracoat, epoxy, blueing, patina etc.

The modern stainless steels are many.  To be classified as stainless they must contain at least 13% chromium.  The modern stainless and CPM type steel vary in edge retention, toughness and hardness.  Each one is a trade off, if you increase edge retention you may loose some toughness.  Too hard and they chip etc.  This link does a much better job of explaining it than I can.  Just remember there is no one best steel- only the best for your intended use.

 Guide to the Best Knife Steel | Knife Informer