An Internet of Things system and method are described. For example, one embodiment of a system comprises: an IoT hub comprising a WAN interface to couple the IoT hub to an IoT service over the WAN, and a local communication interface to communicatively couple the IoT hub to a plurality of different types of IoT devices; and at least one IoT device having a memory for storing program code and a microcontroller for executing the program code, wherein the program code includes library program code comprising basic building blocks usable by a developer to implement any IoT device by creating application program code which utilizes the library program code, wherein at least one of the basic building blocks comprises a communication stack to enable communication with the IoT hub, the library program code provided to the developer in a software development kit (SDK) with the microcontroller.