The challenge raised by the introduction of Internet of Things (IoT) concept will permanently shape the networking and communications landscape and will therefore have a significant social impact. The ongoing IoT research activities are directed towards the definition and design of open architectures and standards, but there are still many issues requiring a global consensus before the final deployment. The paper presents and discusses the IoT architectural frameworks proposed under the ongoing standardization efforts, design issues in terms of IoT hardware and software components, as well as the IoT application domain representatives, such as smart cities, healthcare, agriculture, and nano-scale applications (addressed within the concept of Internet of Nano-Things). In order to obtain the performances related to recently proposed protocols for emerging Industrial Internet of Things applications, the preliminary results for Message Queuing Telemetry Transport and Time-Slotted Channel Hopping protocols are provided. The testing was performed on OpenMote hardware platform and two IoT operating systems: Contiki and OpenWSN.