Crypto to defend chip IP: snake oil or good idea?

[Marcos el Ruptor]

You can use cryptography to protect IP and to prevent cloning of microchips 
even if they get reverse-engineered, but the cipher would have to possess 
special properties similar to those of VEST ciphers (see 
http://www.ecrypt.eu.org/stream/vestp2.html), like support family keying to 
make every ASIC chip implement different secret but secure logic, etc. 
eBeam, lasers and other technologies are available for that. ECC and other 
standard ciphers can't possibly do that.

Ruptor

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