From the press release: "The quantum processor is composed of five superconducting qubits and is housed at the IBM T.J. Watson Research Center in New York. The five-qubit processor represents the latest advancement in IBM’s quantum architecture that can scale to larger quantum systems. It is the leading approach towards building a universal quantum computer." (http://www-03.ibm.com/press/us/en/pressrelease/49661.wss)
From the demo video: looks like you can use hadamard and CNOT gates as well as measurements. Somehow it sounds like you can also apply oracles (not sure how you specify what they are when it gets run). (https://youtu.be/pYD6bvKLI_c)