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The purpose of lorem ipsum is to create a natural looking block of text (sentence, paragraph, page, etc.) that doesn't distract from the layout.

Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua.

It is believed that they scrambled parts of Cicero’s De Finibus Bonorum et Malorum in the 1960s for use in their Body Type (basically body paragraph placeholder) sheets.

The passage is attributed to Letraset, a popular manufacturer of dry transfer sheets for text and other design elements.

Lorem ipsum, or lipsum as it is sometimes known, is dummy text used in laying out print, graphic or web designs.