The leading theory right now comes from M-Theory. You can read up on it with some search on the internet but you will quickly discover that unless you have one helluva a good education it gets pretty high over your head very quickly.
In short the theory states that two membrane walls from other universes collided and the energy from the collision resulted in another universe (ie ours). There are a number of things which support M-theory the most practical of which is the fact that the formulas which have been worked out to accompany it have been applied to other problem areas of science such as the weakness of gravity and the result is that a number of previous problems can be gracefully explained by M-Theory.
They have either recently or will soon send up a deep space probe in an attempt to measure background radiation. Basically M-Theory makes a bunch of predictions about the types and levels of background radiation that would have to be present and up until recently we didn't have equipment sensitive enough to measure for it. Now that we do we also need to get the equipment far enough away from not only earth but our solar system in order for that reading to be clean from interferrence. Ideally within 5 to 6 years we could have an up or down confirmation on the whole matter.
There is simply too much information to go into in this format but if you're interested and motivated enough you can easily lose 2 years worth of weekends and late nights in this stuff. Quite fascinating really, but very very complex and ridiculously math intensive.
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