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oneM2M is similar to a distributed Operating System for the Internet of Things (IOT) | Internet of Things]]. It takes the form of a Middleware service layer consisting of a suite of Common Service Functions (CSFs). The middleware service layer sits between applications and connectivity transport. oneM2M's Common Service Functions (CSFs) are exposed to applications and to IoT devices via Representational State Transfer (REST)ful APIs.

A oneM2M service layer and/or applications can reside in field devices and sensors, on gateways and in back-end or cloud applications. This supports cooperative intelligence in distributed IoT systems.

Source: https://onem2m.org/using-onem2m/developers/basics