Explain the Madhyamaka or Yogacara School.

According to the Mādhyamikas, all phenomena are empty of "substance" or "essence" meaning that they have no intrinsic, independent reality apart from the causes and conditions from which they arose.Mādhyamaka is a rejection of two extreme views, and therefore represents the "middle way" between eternalism—the view that something has an objective existence and nihilism. The term nihilism is used here in the sense from Indian philosophy, which differs from that used in Western philosophical nihilism.

The sense used here denotes either an assertion that all things are intrinsically already destroyed or rendered nonexistent, or a denial of the existence of something that actually exists. The first major school of Mahayana philosophy is known as the Madhyamaka. The Madhyamaka School emerged in India in the second or third century of the Common Era in the works of the philosopher Nagarjuna. It was developed for almost a thousand years in India, and then it was transmitted to Tibet and became the dominant tradition of Tibetan philosophy.
Mādhyamaka is a source of methods for approaching "perfection of wisdom". The Madhyamaka concept of emptiness is often explained through the related concept of interdependence. This is in contrast to independence, that phenomena arise of their own accord, independent of causes and conditions.