ESP8266 has powerful on-board processing and storage capabilities Support 3 modes: AP, STA, AP + STA ESP8266 is a highly integrated chip designed for the needs of a new connected world. It offers a complete and self-contained Wi-Fi networking solution, allowing it to either host the application or to offload all Wi-Fi networking functions from another application processor.
ESP8266 has powerful on-board processing and storage capabilities that allow it to be integrated with the sensors and other application specific devices through its GPIOs with minimal development up-front and minimal loading during runtime. Its high degree of on-chip integration allows for minimal external circuitry, and the entire solution, including front-end module, is designed to occupy minimal PCB area.

Specifications:
Serial/UART baud rate: 115200 bps
Input power: 3.3V
I/O voltage tolerance: 3.6V Max
Flash Memory Size: 1MB (8Mbit)
WiFi security modes: WPA, WPA2

Tip:
The CH_PD pin must be set high for it to run independently of the FTDI.