Spectre is essentially the failure by cpu designers to realize that an untaken branch is fundamentally a privilege boundary.
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The Branch Target Buffer also needs to not co-mingle address bits from different protection domains which is another interesting side channel. Essentially attacking the branch predictor hashing algorithm as a side channel.
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The problem is the cache eviction side-channel. It’s like there needs to be a very small fully associative L0 cache for un-retired speculative loads, so that no cache effects from speculation are visible until retirement.
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