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With time smart services have become more domineering than ever before however, the pertinent security considerations fade to correspond with growing heterogeneity in the internet of things (IoT) devices and new technologies coupled with resource constraints, crafting IoT‐based systems more susceptible to cyber‐attacks. To ensure a secure IoT environment, pro‐active security mechanisms, like scanning vulnerabilities and prioritizing to remediate them timely, should be embedded in the system. Motivated by the facts, we in this paper, highlight the state of the art of several works trading with a common vulnerability scoring system (CVSS), its limitations, and the emendations recommended to conclude its maturity. CVSS is an industry standard that has been adopted worldwide to quantify the vulnerabilities in organizations for IT and IoT‐based systems. The vulnerabilities mathematical score coalesces with …