Waking and dream emerge from consciousness.

Waking and dream emerge from consciousness. The emergence of the waking or dreams does not make any difference to the consciousness. The consciousness remains unchanged and unaffected by the waking or dream, even though both the waking or dream objects and the waking or dreams are aspects of the consciousness. 

The dreamer would not realize that dream objects and the dreams are simply aspects of the consciousness unless he wakes up from the dream. Once the waking takes place the dream becomes unreal, same way when wisdom dawns the waking becomes unreal.  The unchanging reality behind the waking or dream experience is the consciousness. 

 The waking or dream experiences are external manifestation of consciousness. As long as a person is caught up in the phenomenal existence, he does not see the unity behind the multiplicity. When one wakes up to the consciousness as it is in itself, not perceived or interpreted, or noumenal   level he becomes aware of the one, non-dual consciousness, which was the cause of the three states.  

Thus, consciousness is supreme. It is the reality. It has no beginning and end. It is eternal and beyond the reach of pain and pleasure. Consciousness is indivisible, immeasurable, without names and forms. It cannot be avoided, as it is present everywhere. Consciousness cannot be grasped, as it is transcendent. It cannot be contained in anything, as it contains everything. Consciousness is indefinable, for it is beyond the range of action and speech. Thus, consciousness is reality itself, pure and absolute consciousness.

Consciousness is ultimate reality is defined as that which persists. Consciousness exists in all periods of time and remains the same in the past, present and future.