Abstract
The recently proposed holography-inspired approach to quantum gravity is reviewed and expanded. The approach is based on the foliation of the background spacetime and reduction of the offshell states to the physical states. Careful attention is paid to the boundary conditions. It is noted that the outstanding problems such as the cosmological constant problem and black hole information can be tackled from the common thread of the quantized gravity. One-loop renormalization of the coupling constants and the beta function analysis are illustrated. Active galactic nuclei and gravitational waves are discussed as the potential applications of the present quantization scheme to astrophysics.
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