Mahayana Buddhism is the largest school of Buddhist philosophy, making up one of the two major branches of Buddhsim (the other being Theravada). Mahayana Buddhists believe that there is an inherent Buddha nature in all beings, some great potential that we can all realize and cultivate, the ability to achieve enlightenment and Nirvana regardless of our level of monastic fervor.

But along with this inherent Buddhahood there is the duty and responsibility to waylay your transcendence into sweet nothingness until all other beings can do the same thing. Such is the commitment the Bodhisattvas made in the Mahayana philosophy. The Bodhisattvas are a large group of divine beings, revered for their virtues and duties toward helping all beings achieve their ultimate end.  I think it is fair to say that Mahayana Buddhism is characterized by this belief in universal liberation, an awakening for all beings either by monastic devotion, or simple faith and chanting for lay people.

On this path the Buddha is seen as a powerful, almost divine being, existing throughout different parts of time.  A being that came to the world as a mortal in order to help us all.  Not only that, but there are many other similar eternal beings, located in different parts of the universe, in different spots in space and time.
It is a less conservative branch of Buddhism, as it has added more rituals and doctrines to the religion, such as the Bodhisattvas and the many divine Buddhas.

Next, Theravada Buddhism!