The many-worlds interpretation is an interpretation of quantum mechanics that asserts the objective reality of the universal wavefunction and denies the actuality of wavefunction collapse. Many-worlds implies that all possible alternative histories and futures are real, each representing an actual "world". In lay terms, the hypothesis states there is a very large—perhaps infinite—number of universes, and everything that could possibly have happened in our past, but did not, has occurred in the past of some other universe or universes. The theory is also referred to as MWI, the relative state formulation, the Everett interpretation, the theory of the universal wavefunction, many-universes interpretation, or just many-worlds.
The original relative state formulation is due to Hugh Everett in 1957. Later, this formulation was popularized and renamed many-worlds by Bryce Seligman DeWitt in the 1960s and 1970s. The decoherence approaches to interpreting quantum theory have been further explored and developed, becoming quite popular. MWI is one of many multiverse hypotheses in physics and philosophy. It is currently considered a mainstream interpretation along with the other decoherence interpretations, the Copenhagen interpretation, and deterministic interpretations such as the Bohmian mechanics.