The widespread adoption of IoT networks has revolutionized modern life thanks to their diverse range of applications. With their increased usage, the need to transfer data securely has never been more vital. Often IoT devices are battery-driven and possess limited processing and storage capabilities. In response to those limitations, there has been a shift towards the implementation of resource-efficient and lighter protocols. This research aims to evaluate how lightweight key establishment through Object Security for Constrained RESTful Environments (OSCORE) and Ephemeral Diffie-Hellman Over COSE (EDHOC) can enhance cybersecurity in IoT networks where resources are limited. The study aims to explore different key management approaches and the effects of certificates on security, efficiency, and power consumption. The research methodology consists of the practical implementation of the protocols in a physical system where factors such as the impact of hardware acceleration on computational overhead and overall power consumption will be assessed. Furthermore, the study will verify the cost of resources and overall efficiency, evaluating them against real-world scenarios. The expected contributions of this study are insights into the tradeoffs between security, power consumption, and efficiency in resource-limited IoT environments.