Lambda-CDM model
The Lambda-CDM, Lambda cold dark matter or ΛCDM model is a mathematical model of the Big Bang theory with three major components:

a cosmological constant denoted by lambda (Λ) associated with dark energy,
the postulated cold dark matter, and
ordinary matter.It is frequently referred to as the standard model of Big Bang cosmology because it is the simplest model that provides a reasonably good account of:

the existence and structure of the cosmic microwave background
the large-scale structure in the distribution of galaxies
the observed abundances of hydrogen (including deuterium), helium, and lithium
the accelerating expansion of the universe observed in the light from distant galaxies and supernovaeThe model assumes that general relativity is the correct theory of gravity on cosmological scales. It emerged in the late 1990s as a concordance cosmology, after a period of time when disparate observed properties of the universe appeared mutually inconsistent, and there was no consensus on the makeup of the energy density of the universe. The ΛCDM model can be extended by adding cosmological inflation, quintessence, and other areas of speculation and research in cosmology. Some alternative models challenge the assumptions of the ΛCDM model. Examples of these are modified Newtonian dynamics, entropic gravity, modified gravity, theories of large-scale variations in the matter density of the universe, bimetric gravity, scale invariance of empty space, and decaying dark matter (DDM).