We have recently proposed three paradigms for the theoretical interpretation of gamma-ray bursts (GRBs). (1) The relative space–time transformation (RSTT) paradigm emphasizes how the knowledge of the entire world-line of the source from the moment of gravitational collapse is a necessary condition in order to interpret GRB data.1 (2) The interpretation of the burst structure (IBS) paradigm differentiates in all GRBs between an injector phase and a beam-target phase.2 (3) The GRB-supernova time sequence (GSTS) paradigm introduces the concept of induced supernova explosion in the supernovae-GRB association.3 The RSTT and IBS paradigms are enunciated and illustrated using our theory based on the vacuum polarization process occurring around an electromagnetic black hole (EMBH) theory. The results are summarized using figures, diagrams and a complete table with the space–time grid, the fundamental parameters and the corresponding values of the Lorentz gamma factor for GRB 991216 used as a prototype. In the following sections the detailed treatment of the EMBH theory needed to understand the results of the three above paradigms is presented. We start from the considerations on the dyadosphere formation. We then review the basic hydrodynamic and rate equations, the equations leading to the relative space–time transformations as well as the adopted numerical integration techniques. We then illustrate the five fundamental eras of the EMBH theory: the self acceleration of the e+e- pair-electromagnetic plasma (PEM pulse), its interaction with the baryonic remnant of the progenitor star, the further self acceleration of the e+e- pair-electromagnetic radiation and baryon plasma (PEMB pulse). We then study the approach of the PEMB pulse to transparency, the emission of the proper GRB (P-GRB) and its relation to the "short GRBs". Particular attention is given to the free parameters of the theory and to the values of the thermodynamical quantities at transparency. Finally the three different regimes of the afterglow are described within the fully radiative and radial approximations: the ultrarelativistic, the relativistic and the nonrelativistic regimes. The best fit of the theory leads to an unequivocal identification of the "long GRBs" as extended emission occurring at the afterglow peak (E-APE). The relative intensities, the time separation and the hardness ratio of the P-GRB and the E-APE are used as distinctive observational test of the EMBH theory and the excellent agreement between our theoretical predictions and the observations are documented. The afterglow power-law indexes in the EMBH theory are compared and contrasted with the ones in the literature, and no beaming process is found for GRB 991216. Finally, some preliminary results relating the observed time variability of the E-APE to the inhomogeneities in the interstellar medium are presented, as well as some general considerations on the EMBH formation. The issue of the GSTS paradigm will be the object of a forthcoming publication while the relevance of the iron-lines observed in GRB 991216 is shortly reviewed. The general conclusions are then presented based on the three fundamental parameters of the EMBH theory: the dyadosphere energy, the baryonic mass of the remnant, the interstellar medium density. An in depth discussion and comparison of the EMBH theory with alternative theories is presented as well as indications of further developments beyond the radial approximation, which will be the subject of paper II in this series. Future needs for specific GRB observations are outlined.