The reason Earth has only one natural satellite which is the moon, is believed to be linked to a hypothesis known as the 'giant impact hypothesis' or 'Big Splash'.
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Formation Process
Early in the history of the solar system, about 4.5 billion years ago, a Mars-sized celestial body, often referred to as Theia, collided with the young Earth.
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Impact and Debris
The impact was so powerful that it resulted in the ejection of a significant amount of debris from both Theia and Earth into space.
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Accretion of Debris
Over time, the debris in orbit around Earth began to accrete and form what we now know as the Moon.
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Moon's Formation
The material that formed the Moon eventually coalesced into a single celestial body, creating the Moon as Earth's only natural satellite.
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Lacks iron core
The Moon's composition is similar to Earth's outer layers, and it lacks a significant iron core, further supporting the idea of formed from material ejected during a massive impact