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Homotopy theory is a branch of mathematics that deals with the study of continuous deformations of functions and spaces. In the context of topological spaces, homotopy theory focuses on understanding the fundamental properties of spaces that are preserved under continuous deformations.

One key application of homotopy theory in the study of topological spaces is in distinguishing between different types of spaces based on their fundamental group. The fundamental group is a topological invariant that captures information about the connectivity of a space. By using homotopy theory, mathematicians can determine when two spaces are equivalent in terms of their topological properties by studying the behavior of continuous deformations between them.

Overall, homotopy theory provides a powerful toolkit for analyzing and classifying topological spaces based on their fundamental properties and the continuous transformations that preserve these properties.
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