Karaism is often characterized by its rejection of the Talmud in favor of a super-literalist interpretation of the Torah. But Karaism is better understood as an alternate, parallel form of Judaism based on the Bible.The Karaites are a non-rabbinic community of Jews whose origin goes back at least to the early Middle Ages. They reject the rabbinic concept of the Oral Torah.
This essay gives a very thorough exposition of Karaite religious thought and practice.
For many past PaleoJudaica posts on the Karaites, start here and follow the links.