2026-07-072026-07-07http://salesiana.dossiersoluciones.com/handle/123456789/75318We study Nekrasov's deformed partition function of 5-dimensional supersymmetric Yang-Mills theory compactified on a circle. Mathematically it is the generating function of the characters of the coordinate rings of the moduli spaces of instantons on $\mathbb R^4$. We show that it satisfies a system of functional equations, called blowup equations, whose solution is unique. As applications, we prove (a) logarithm of the partition function times $ε_1ε_2$ is regular at $ε_1 = ε_2 = 0$, (a part of Nekrasov's conjecture), and (b) the genus 1 parts, which are first several Taylor coefficients of the logarithm of the partition function, are written explicitly in terms of the Seiberg-Witten curves in rank 2 case.26 pages, no figuresAlgebraic GeometryHigh Energy Physics - TheoryPrimary 14D21; Secondary 57R57, 81T13, 81T60Instanton counting on blowup. II. $K$-theoretic partition functiontext