The Internet of Things (IoT) brings together a multitude of technologies, with a vision of creating an interconnected world. This will benefit both corporations as well as the end-users. However, a plethora of security and privacy challenges need to be addressed for the IoT to be fully realized. In this paper, we identify and discuss the properties that constitute the uniqueness of the IoT in terms of the upcoming security and privacy challenges. Furthermore, we construct requirements induced by the aforementioned properties. We survey the four most dominant IoT architectures and analyze their security and privacy components with respect to the requirements. Our analysis shows a mediocre coverage of security and privacy requirements. Finally, through our survey we identify a number of research gaps that constitute the steps ahead for future research.