The document provides an in-depth analysis of hardware trojans, including their classification, insertion techniques, and detection methods. It discusses various phases where trojans can be inserted, such as specification, design, and fabrication, and highlights the challenges in detecting them with techniques like power analysis and delay fingerprinting. The paper concludes that hardware trojan insertion can occur at any stage of the IC design cycle and calls attention to the ineffectiveness of certain detection methods for implicit payload trojans.