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The Networks of the Future is made up of much more heterogeneous devices, contributing to a substantially richer and complex ecosystem. In terms of security, and given the fast pace at which computer technology evolves, the hardware and software fragmentation and the maturity of some systems reaching the market, it is foreseeable that the scenario probably becomes worse before it gets better and the Internet of Things (IoT) vastly contributes to such scenario. This chapter explores the current security challenges of the IoT industry and its impact on privacy and security of consumers. This is achieved by providing a perspective over the state of IoT cyber security by discussing several IoT security incidents that hit the news over the last few years. In addition, the chapter discusses IoT Security requirements, presents security versus performance trade-offs and considers standard IoT security protocols. It also …