When comparing dm-crypt via LUKS vs CipherShed, the Slant community recommends dm-crypt via LUKS for most people. In the question“What are the best file encryption tools?” dm-crypt via LUKS is ranked 8th while CipherShed is ranked 18th. The most important reason people chose dm-crypt via LUKS is:
Encrypt whole disks, removable media, software RAID, partitions, files and logical volumes.
Specs
Ranked in these QuestionsQuestion Ranking
Pros
Pro Flexible
Encrypt whole disks, removable media, software RAID, partitions, files and logical volumes.
Pro Native Linux support
It offers the best integration and ease of use on Linux.
Pro Free and open-source
Open-source for cryptography is a requirement, not just a bonus.
Pro Support for multiple keys/passwords
If several people should be able to decrypt a volume, each one can have their own password/key.
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 Requires advanced command line knowledge
In order to use dm-crypt you need to have advanced knowledge of Linux and of the command line, as well as the Linux filesystem.
However, most distros support easy creation of LUKS-encrypted drives when installing Linux transparently.
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.