When comparing TrueCrypt vs CipherShed, the Slant community recommends CipherShed for most people. In the question“What are the best file encryption tools?” CipherShed is ranked 18th while TrueCrypt is ranked 20th. The most important reason people chose CipherShed is:
CipherShed is built on top of the famous and now abandoned TrueCrypt and it comes with a lot of things that TrueCrypt had.
Ranked in these QuestionsQuestion Ranking
Pros
Pro Can encrypt entire disks
Other than volumes and folders, TrueCrypt can encrypt whole disks too, including the system disk.
Pro Built on top of TrueCrypt
CipherShed is built on top of the famous and now abandoned TrueCrypt and it comes with a lot of things that TrueCrypt had.
Pro Completely free
CipherShed is completely free and open source.
Pro Cross-platform
Available on Windows, OS X and Linux
Cons
Con Abandoned
As of May 28th, TrueCrypt is abandonware. The website warns that using the software might not be secure and suggests moving to BitLocker. The source code is available and there are rumors of an official fork.
Con Difficult to enhance key derivation
Since CipherShed decided to keep the TrueCrypt compatibility, and stick with that format they also have to stick with TrueCrypt's key derivation which was released in 2004 and understandably does not offer the same security that it did when first released.