  A new paradigm for black holes is introduced. It is known as the External
Energy Paradigm. The paradigm asserts that all energies of a black hole are
external quantities; they are absent inside the horizon. These energies include
constituent mass, gravitational energy, electrostatic energy, rotational
energy, heat energy, etc. As a result, quantum particles with charges and spins
cannot exist inside the black hole. To validate the conclusion, we derive the
moment of inertia of a Schwarzschild black hole and find that it is exactly
equal to $mass \times (Schwarzschild \,\,\, radius)^{2}$, indicating that all
mass of the black hole is located at the horizon. This remarkable result can
resolve several long-standing paradoxes in black hole theory; such as why
entropy is proportional to area and not to volume, the singularity problem, the
information loss problem, and the perplexing firewall controversy.
