Final answer:
The essence of the third noble truth is the cessation of suffering through the release of cravings, leading to awakening or nirvana. It emphasizes detachment from attachments and desires as a way to end psychological suffering and achieve liberation by following the middle way and the eightfold path.
Step-by-step explanation:
The essence of the third noble truth is about the cessation of suffering (dukkha) through the release of cravings (tanha). It implies that by letting go of our desires and attachments to transient things and ideas, we find relief from suffering. The truth recognizes that our attachments and cravings cause psychological turmoil by binding us to a cycle of rebirth and dissatisfaction. The path to awakening, or nirvana, requires forsaking these cravings, achieving detachment, and thereby extinguishing the perpetual sense of dissatisfaction. In Buddhism, understanding and living by the four noble truths can lead to liberation. The realization of these truths helps adherents lead a moral life, embracing the middle way between extreme indulgence and asceticism. Liberation comes when an individual aligns their thoughts, speech, and actions with the eightfold path, fostering wisdom, morality, and concentration in the quest for nirvana.