The main problem in Internet of Things (IoT) security is how to find lightweight cryptosystems that are suitable for devices with limited capabilities. In this paper, a comprehensive literature survey that discusses the most prominent encryption algorithms used in device security in general and IoT devices in specific has been conducted. Many studies related to this field have been discussed to identify the most technical requirements of lightweight encryption systems to be compatible with variances in IoT devices. Also, we explored the results of security and performance of the AES algorithm in an attempt to study the algorithm performance for keeping an acceptable security level which makes it more adaptable to IoT devices as a lightweight encryption system.