From Carlo Rovelli's review paper (See References.) — "The main merit of loop quantum gravity, on the other hand, is that it provides a well-defined and mathematically rigorous formulation of a background-independent, non-perturbative generally covariant quantum field theory. The theory provides a physical picture and quantitative predictions of the world at the Planck scale. The main incompleteness of the theory is regarding the dynamics, formulated in several variants. So far, the theory has lead to two main sets of physical results. The first is the derivation of the (Planck scale) eigenvalues of geometrical quantities such as areas and volumes. The second is the derivation of black hole entropy for ``normal'' black holes (but only up to the precise numerical factor)."