Explore a comprehensive analysis of Finite State Machine (FSM) based hardware obfuscation techniques presented in a 20-minute conference talk at CHES 2018. Delve into the research findings of Marc Fyrbiak, Sebastian Wallat, Jonathan Déchelotte, Nils Albartus, Sinan Böcker, Russell Tessier, and Christof Paar as they examine the challenges and limitations of this obfuscation method. Gain insights into the security implications for hardware designs and potential vulnerabilities in FSM-based obfuscation strategies. Learn about the latest developments in hardware security and the ongoing efforts to protect intellectual property in integrated circuit designs.