The Internet of Things (IoT) encompasses many domains, including automation, logistics, grid, transportation,
healthcare, and more. The IoT produces significant output that can be stored in a cloud. Using cloud
computing is impractical in specific delay-sensitive IoT applications involving complex operations. Fog and
edge computing paradigms are introduced to address this limitation; however, they require a reliable internet
connection for proper functioning. The dew computing paradigm is a novel concept that enables the execution
of various applications in the IoT environment, with or without internet connectivity. Data confidentiality and
integrity during transmission and storage in these environments present significant challenges. A fail-safe
and highly effective mechanism for addressing the security issue is yet to be proposed. This study introduces
a protocol that utilizes the Elliptic Curve Cryptography (ECC) and Secure Hash Algorithm (SHA) to design
a Secure Key Agreement and Lightweight Protocol (SKALP). SKALP security is formally analyzed using
BAN (Burrows-Abadi-Needham) logic, ROM (Random Oracle Model), RoR (Real-Or-Random) model,
and ProVerif simulation while informally discussing it to evaluate its resistance against well-known attacks.
Additionally, the performance analysis of SKALP considers the costs associated with communication and
computation. The findings from the comparative analysis indicate that the proposed scheme demonstrates a
higher level of superiority than its competitors.