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In cryptography, a timing attack is a side channel attack in which the attacker attempts to compromise a cryptosystem by analyzing the time taken to execute cryptographic algorithms. Every logical operation in a computer takes time to execute, and the time can differ based on the input; with precise measurements of the time for each operation, an attacker can work backwards to the input.
Information can leak from a system through measurement of the time it takes to respond to certain queries. How much this information can help an attacker depends on many variables: crypto system design, the CPU running the system, the algorithms used, assorted implementation details, timing attack countermeasures, the accuracy of the timing measurements, etc.
Timing attacks are often overlooked in the design phase because they are so dependent on the implementation and can be introduced inadvertently with compiler optimizations. Avoidance of timing attacks involves design of constant-time functions and careful testing of the final executable code.

Source: Wikipedia