—The two-way relay channel (TWRC) describes the communication between two terminals sharing a common relay. In this work we compare different protocols for the TWRC with a half-duplex relay (forwarding and protocol I) and transmission schemes (Network Coding Relaying with random binning and XOR precoding), when the relay works in decode-and-forward and without channel state information at the transmitters. We provide the optimal resource allocation (in terms of phase duration, data rate and power allocation) when there is an individual or sum-average power constraint over the terminals. Closed-form solutions are derived whenever it is possible, while for others cases we show that the resource allocation can be formulated as a convex problem, which means that the solution can be obtained by low-complexity interior point methods.