For an example of how to evaluate encryption algorithms see [1] section 4 for general information of how the NIST compares encryption algorithms. You can also check section 3.1 of [2] for a general explanation of how the AES algorithm was evaluated.
When a new encryption algorithm is proposed, it can be compared with other standard encryption algorithms in several ways. Here are some possible approaches:
Performance: One way to compare encryption algorithms is by their performance. This includes how fast they can encrypt and decrypt data, how much memory they require, and how efficient they are at processing data. Performance is often measured in terms of the number of operations or the amount of time required to encrypt or decrypt a given amount of data.
Security: Another important factor when comparing encryption algorithms is their security. The security of an encryption algorithm depends on how well it resists attacks, such as brute-force attacks, differential cryptanalysis, or side-channel attacks. The security of an encryption algorithm can be evaluated by analyzing its design, testing it against known attacks, and assessing its resistance to new and emerging attack techniques.
Compatibility: An encryption algorithm can also be compared based on its compatibility with existing systems and infrastructure. This includes its ability to work with different operating systems, programming languages, and hardware platforms. Compatibility can also refer to the ease with which an encryption algorithm can be integrated into existing systems and the availability of libraries and tools to support its implementation.
Usability: Finally, the usability of an encryption algorithm is another important consideration. This includes how easy it is to use and how well it integrates into existing workflows and processes. Usability can also refer to the availability of documentation, training resources, and support for the encryption algorithm.
Overall, when comparing a new encryption algorithm with other standard encryption algorithms, it's important to consider a combination of these factors to determine the strengths and weaknesses of each algorithm and to determine which one is best suited for a particular use case.