Here’s the Deal
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When comparing picocrypt vs CipherShed, the Slant community recommends picocrypt for most people. In the question“What are the best file encryption tools?” picocrypt is ranked 13th while CipherShed is ranked 18th.
Ranked in these QuestionsQuestion Ranking
Common Questions
Pros
No pros yet!
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
No cons yet!
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.