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With the advent of the Internet of Things (IoT) paradigm, the cloud model is unable to offer satisfactory services for latency‐sensitive and real‐time applications due to high latency and scalability issues. Hence, an emerging computing paradigm named as fog/edge computing was evolved, to offer services close to the data source and optimize the quality of services (QoS) parameters such as latency, scalability, reliability, energy, privacy, and security of data. This article presents the evolution in the computing paradigm from the client‐server model to edge computing along with their objectives and limitations. A state‐of‐the‐art review of Cloud Computing and Cloud of Things (CoT) is presented that addressed the techniques, constraints, limitations, and research challenges. Further, we have discussed the role and mechanism of fog/edge computing and Fog of Things (FoT), along with necessitating amalgamation …