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Today, the consensus among scientists, astronomers and cosmologists is that the Universe as we know it was created in a massive explosion that not only created the majority of matter, but the physical laws that govern our ever-expanding cosmos. This is known as The Big Bang Theory.
Fred Hoyle (and others) proposed a Steady State Theory (indeed, it was good ol' Fred who is credited with creating the term 'Big Bang' - ironically, he meant it disparagingly); it pretty much disappeared once serious study of the cosmic (background) (microwave) (radiation) - CMBR, or CMB, or ... - got under way.