Thread will connect products in the home with no hardware required, in a similar way to Bluetooth.
Unlike existing network technologies, Thread enables IPv6 communications, the latest internet protocol that will eventually replace IPv4.
Thread is hoping to be baked into future products and have a focus on not draining batteries as quickly what is seen now.
“Many existing networks drain batteries quickly, and 'hub and spoke' models dependent on one device — if the device fails, the whole network goes down," explained Chris Boross, who is leading the project at Nest.
There will also be a new industry group called the ‘Thread Group’ that will guide the adoption of the new protocol. It aims to be made up of home device makers and companies that are interested in joining the group will be able to apply for membership later this year.
The Thread Group will also run a certification program for all products developed using Thread.
In other Samsung news, the firm has launched a new Galaxy App Store, which offers hundreds of app exclusively available to Galaxy mobile devices.
Replacing Samsung Apps, the new store features apps that will allow greater customisation of mobile devices, as well as offer various promotions and discounts.