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Spin foams and MCP are from the same stable, just moving by different roads. From the Baez introduction paper you cited above;
And recall that Thiemann, in his Phoenix paper, noted that some had gone off to study path integral methods because the Hamiltonian constaint had not been solved. But the networks come from the same source and they both started from holonomies along an edge (I should have said that instead of Wilson loops).
Since loop quantum gravity is based on canonical quantization, states in this formalism describe the geometry of space at a fixed time. Dynamics
enters the theory only in the form of a constraint called the Hamiltonian constraint. Unfortunately this constraint is still poorly understood. Thus until recently, we had almost no idea what loop quantum gravity might say about the geometry of spacetime.
And recall that Thiemann, in his Phoenix paper, noted that some had gone off to study path integral methods because the Hamiltonian constaint had not been solved. But the networks come from the same source and they both started from holonomies along an edge (I should have said that instead of Wilson loops).