Implement the LED algorithm in python code $($WRITE THE ACTUAL CODE$)$ according to the specifications outlined in the LED standard, including key setup, encryption, and decryption procedures. Verify the correctness of your implementation by encrypting and decrypting test plain text with different keys.

Measure the performance of your LED implementation in terms of encryption and decryption speed. Compare the performance of your LED implementation with other lightweight encryption algorithms or established cryptographic libraries. Discuess the factors influencing the performance of LED $,$ such as key size, block size and optimization techniques.