Lambda calculus is a formal system in mathematical logic and computer science for expressing computation based on function abstraction and application. It was developed by Alonzo Church in the 1930s as part of his work on the foundations of mathematics. The key components of lambda calculus include: 1. **Variables**: These are symbols that can stand for values. 2. **Function Abstraction**: A lambda expression can describe anonymous functions.
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Lambda calculus forms terms from variables, abstraction, and application, and computes by substitution.