When comparing VeraCrypt vs Matrix, the Slant community recommends VeraCrypt for most people. In the question“What are the best tools/apps/extensions to help keep my data private?” VeraCrypt is ranked 2nd while Matrix is ranked 6th. The most important reason people chose VeraCrypt is:
Veracrypt is an on-the-fly encryption tool. Meaning that it decrypts files only when they are needed and that the files are otherwise kept encrypted the rest of the time.
Specs
Ranked in these QuestionsQuestion Ranking
Pros
Pro On-the-fly encryption
Veracrypt is an on-the-fly encryption tool. Meaning that it decrypts files only when they are needed and that the files are otherwise kept encrypted the rest of the time.
Pro Free
This project is free and users are encouraged to donate something to keep the project going.
Pro Several encryption cyphers supported
Supports AES, TwoFish and Serpent encryption cyphers.
Pro Open source code
The source code is open to review. It has already had a security audit and it did well, with small problems fixed by authors within days of being reported. Its predecessor source, Truecrypt, had a detailed audit that found its capabilities sound, completed (ironically) shortly before the TC folks decided to call it quits. Anyone skeptical or curious about what it does can see how it works, at the gut level.
Pro Support for AES code in CPU
Most Intel and AMD (and possibly other) CPUs have AES specific instruction sets, so you needn't task the CPU during the en/de/crypt process when using AES, VC throughput is as if the code were in 'firmware'; you can see the effect if you choose anything but AES as your cipher.
Pro Can create containers
It can create containers (like a encrypted folder) which is very useful.
Pro Regular updates
Veracrypt is in active development with constant and regular updates and several external audits in the planning stages.
Pro Multiplatform
Veracrypt is supported on MacOS, Linux and Windows.
Pro Built on top of TrueCrypt
Pro Easy to use
It's easy to understand and use.
Pro Built on an open standard
Matrix is an open standard, defining simple HTTP APIs so that devs can easily write their own clients, bots, bridges or servers. You're not locked into a specific set of implementations.
Pro Bridges other networks into a single decentralised network
Matrix has bridges to IRC (freenode, moznet, oftc, snoonet etc), Slack, Gitter, Rocket.Chat, XMPP, SMS, SIP and others. The point is to 'matrix' all the different networks out there into one single decentralised network.
Pro Has an easy to use client called Riot
Riot.im is the easiest way to use Matrix, with great clients for Web, iOS and Android (and Fdroid).
Pro Does not require a centralized server to establish a connection between two users
Matrix is decentralized, there's no one central point that the information goes through and so no once central point of failure or control.
Pro Matrix prioritizes direct messaging with people the same as Slack-style groups
Matrix aims to "provide an analogous ecosystem to email - one where you can communicate with pretty much anyone, without caring what app or server they are using" using a neutral identity system.
Pro Supports different kinds of communication
Matrix is designed to support Instant Messaging, VoIP/WebRTC signalling (voice and video) and Internet of Things communication.
Pro Has an app store for 3rd party integrations & bots
Riot.im includes an app store with integrations for Github, JIRA, Jenkins, Giphy etc - and anyone can add more via Matrix.
Pro Offers choice of clients
Which can be found here.
Pro Maintains full conversation history
Pro Has an active community behind it
Pro Can be integrated with existing communication services
Matrix is designed to support Instant Messaging, VoIP/WebRTC signalling and Internet of Things communication and allows cross-communication between those services. Meaning one person could be using IRC and another Slack for IMs, or one person could be using Skype and another Google Hangouts for videoconferencing.
Pro End-to-end encryption
Matrix features end-to-end encrypted chats which are syncronized accross all your devices.
E2E is implemented in the matrix-js-sdk library and Riot.im client.
Cons
Con Can't create volumes on the Mac.
The password used to create the volume doesn't open the volume one minute later. VeraCrypt 1.21/FUSE 3.82/macOS 10.12.6. Recreated on 3 Macs now. Unusable.
Con Not plug and play
Requires some tech savvy, so some skill is required, particularly if things go wrong. In the Windows world different UEFI implementations can cause problems in one, not in others, and the solutions are not uniform between issues. For Bitlocker, Microsoft worked out issues with vendors before hand, so if Windows installs and works without bitlocker, it will likely work with it.
Con The UI is not compliant with the Mac
This program does not use Mac UI standards. Nevertheless, it is acceptable.
Con Keys cannot be checked automatically
You cannot automatically check keys of your recipients. Only manually.