I went through the temple, took out my endowments and had my family sealed when I was in the LDS church.
In terms of function, there is no similarity as there is no sacrifice performed.
The LDS temple exists for the performance of specific ordinances of the LDS church: the endowment ceremony, temple marriage or sealing, and vicarious ordinances for the dead (baptism, confirmation, ordinations, endowment and sealing). There was also an ordinance called washing and anointing, but I’m of the unerstanding it was removed a couple years ago.
Temple attendence marks enterance into the Mormon “inner circle” in a sense as only devout and faithful LDS are permitted to attend. It functions much like the temple of the Greek mystery cults where certain doctrines and ceremonies deemed too holy to share with outsiders were taught to the elect.