The word 'Maitreya' literally means friendly. Indeed Maitreya is the only bodhisattva who has inspired widespread devotion both Theravada and Mahayana countries.
Seated upon his royal throne, he holds the stalk of a blue lotus in two fingers of his left hand. On the lotus is a Wheel of Dharma. According to Buddhist tradition, after Buddha's departure, it is Maitreya who will set rolling the Wheel of Dharma again, in the future. The three extended fingers of this hand signify the Three Jewels.
His right hand makes a gesture of blessing. About this hand an ancient text says:
'And when Maitreya Buddha with great pleasure extends His right hand to my head and predicts where and when I shall gain full enlightenment, may I achieve This enlightenment quickly for everyone's sake.'
Theravada and Mahayana sources agree that at present Maitreya resides in the Tushita heaven. Far in the future, when the wave of teaching initiated by Shakyamuni, which we know as Buddhism, has died out, Maitreya will descend to earth and will rediscover the path to enlightenment.
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