The speed at which the Moon rotates has lead to this particular phenomenon. Millions of years ago, the Moon spun at a much faster pace than it does now. However, the gravitational influence of the Earth has gradually acted upon the Moon to slow its rotation down, in the same way that the much smaller gravitational influence of the Moon acts upon the Earth to create tides. This influence slowed the rotational period of the Moon to match that of its orbit – about 29.5 days – and it is now "locked in" to this period. Since the rotational period is exactly the same as the orbital period, the same portion of the Moon's sphere is always facing the Earth.
Another interesting fact is that actually a little bit more than half of the Moon's surface is observable from Earth. Since the Moon's orbit is elliptical, and not circular, the speed of its orbital travel increases and decreases depending on how close it is to our planet. The rotational speed of the Moon is constant however – and this difference between orbital speed and rotational speed means that when the Moon is farthest from the Earth, its orbital speed slows down just enough to allow its rotational speed to overtake it, giving observers a small glimpse of the usually hidden area. The term for this "rocking" motion of the Moon is called libration and it allows for 59 percent of the Moon to be seen in total (over time).
