I'm having a little bit of trouble distinguishing between the two. Basically LQG states that the quantum structure of spacetime is composed of spin-networks which are composed of strings just with their ends tied, I guess you could say. LQG is also background independent. It says that these spin-networks are space and time. Time is the constantly shifting spin-networks and space (volume) is the "nodes" in the middle of the looped strings. Is all that basically right? Is string theory suggesting that space is made out of strings that extend infintley? But string theory is background dependent. Why is it even being researched if we know that a theory of quantum gravity has to be background independent? And what are "string bits"? I've just starting reading about this stuff so bear with me.