In this dissertation we study the dynamics of loop quantum gravity and its applications. We propose a tunneling phenomenon of a black hole-white hole transition and derive an amplitude for such transition using the spinfoam framework. We investigate a special class of kinematical states for loop quantum gravity - Bell spin networks - and show that their entanglement entropy obeys the area law. We develop a new spinfoam vertex amplitude that has the correct semi-classical limit. We then apply this new amplitude to calculate the graviton propagator and a cosmological transition amplitude. The results of these calculations show feasibility of computations with the new amplitude and its viability as a spinfoam model. Finally, we use physical principles to radically constrain ambiguities in the cosmological dynamics and derive unique Hamiltonian dynamics for Friedmann-Robertson-Walker and Bianchi I cosmologies.