Buddhism provided a "middle way" of attaining nirvana, i.e. enlightenment. Enlightenment is the profound realization of the meaning of life, which annihilates suffering to further lead to moksha, which is freedom from the repeated cycles of birth and death.
This way of Gautama, The Buddha (The Realized One), which is what Buddhism represents, allows one to walk the spiritual path using neither extremes- of spiritual practice or materialistic living. It is the middle path where one neither indulges in extreme asceticism nor in extreme material pursuits!
Buddha taught the four Noble Truths. These are believed to be the four steps which lead to enlightenment and then when this state of Enlightenment is maintained till the end of one's current lifetime, then it can further lead one to attain moksha, where they do not need to be reborn on this earthly plane of karma & retribution.
The first truth is called as Dukkha, i.e. suffering. It states that everything in life inevitably leads to suffering. Because of this everyone is suffering in some way or the other. The second truth is called as Samudaya, which speaks about the origin of suffering. This truth states that it is our desirous nature which causes of our suffering. This desire is called as the 'taanha'. The third truth is called Nirodha. It indicates that it is possible to keep our desirous nature in check, so as to achieve cessation of our suffering! ... and the fourth and final truth is called as Maaga (way), which shows the middle way in which one can walk their life path, so as to attain enlightenment and cease all their suffering.
There are two major types of Buddhism: Mahayana Buddhism or Theravada Buddhism. Mahayana Buddhism is a popular practice in China, Taiwan, Japan and Korea. It emphasizes the role models of bodhisattvas, beings who have reached enlightenment and return to teach others. Theravada Buddhism can be found in Sri Lanka (Myanmar), Thailand, Laos and Sri Lanka. It promotes monastic living and meditation as the path to enlightenment.