ESP8266 provides a complete and self-contained Wi-Fi networking system that allows hosting the application or offloading of all Wi-Fi networking functions from another device processor. If the program is hosted by ESP8266, which is the only program processor in the system, it can boot up directly from an external disk. This has built in cache to boost device performance in these applications, and reduce memory requirements. Alternately, serving as a Wi-Fi adapter, wireless internet access can be added to any microcontroller-based design with simple connectivity through UART interface or the CPU AHB bridge interface.
The on-board processing and storage capabilities of ESP8266 allow it to be integrated with sensors and other application-specific devices via its GPIOs, with minimal up-front development and minimal runtime loading. With its high degree of on-chip integration, which includes antenna switch balun, power management converters, minimal external circuitry is required and the entire solution, including front-end module, is built to occupy minimal PCB space
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ESP8266 is a 3.3V device making it may not be compatible wit some peripherals.
ESP-1 has only two (four if you can forgo RX/TX) GPIO pins.
It does not have any analog pins
WiFi code takes a lot of CPU power, so asking the ESP8266 to do WiFi and devices sometimes get a bit too much causing reliability issues.
The following current intake, using internal regulators, is based on 3.3V supply, and 25°C ambient. Measurements are made without SAW filter at antenna port. All measurements of the transmitter are based on a duty cycle of 90 per cent, continuous transmission mode.
The following are measured under room temperature conditions with 3.3V and 1.1V power supplies.
Schematic Diagram of ESP8266