IELE memory : cardano

“Unlike EVM, which uses a 2^256-cell array of bytes as local execution memory, IELE’s local execution memory is a 2^256-cell array of arbitrary-length byte buffers.”

What does that mean? Does 2^256 mean 256 bits? So is it just a fancy way of saying that the EVM has a 32 byte cell and the IELE has an arbitrary length byte cell? It can’t mean 2 to the power of 256 of anything, because that is a huge number.

Cell storage is arbitrary, ok, get that. What is total memory provided by VM?

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