Hi I have a basement wall that is 6' tall cinderblock I want to finish it is there any way to attach sheetrock to it or do I need to frame along side of it? It is kind of small already, so would like to keep as much area as possible. Thanks moe

The most space efficient way is to use 1x3 or 1x4 furring strips nailed and glued to cinder blocks. These are so crappy though by the time you will probably wish you had given up another 1" and used 2x3 flat against the wall. Be aware that even with 2x3's you will have a problem installing electric. When all is said and done you are probably best off just studding out with 2x4.

I had great success with liquid nails and 2X4's. I pre drilled all my holes for the romex before adhering them to the wall

id frame up a 2x4 wall , use a treated plate though, and keep it off the wall 1"
you can use 3/4 boards they have to be treated and u can ram set them to the wall or use cut nails, also masonary screws will work but much slower

HILTI makes an adhesive spray foam that works great to attach drywall to any type of block or concrete. The foam will hold the drywall there with no problems, however if the block is overly un-even you would want to stud it up to make it easier to finish.