This paper draws the following conclusions on the nature of time by analyzing the relationship between time and speed, the relationship between time and gravitational field, the gravitational redshift of the photon, and the black-body radiation theorem: Time on an object is proportional to the amount of energy flowing out (or in) per unit time (observer’s time) per unit surface area of the object. When an object radiates energy outward: t'=μB(T) =μσT 4 =μnhν/st Where t’ is the time on the object, μ is a constant, B(T) is the radiosity，the total energy radiated from the unit surface area of the object in unit time (observer’s time), σ is the Stefan-Boltzmann constant, T is the absolute temperature, n is the number of the photons radiated, ν is the average frequency of the photons radiated, s is the surface area of the object and t is the time on the observer. When the object radiates energy outward, the higher the energy density of the space (for example the stronger the gravitational field of the space), the smaller the radiosity B(T) of the object in the space, the longer the average wavelength of the light quantum emitted by the object, the slower the time on the object, the longer the life of the system. When the object radiates energy outward, the faster the object moves relative to the ether, the higher the energy density of the local space in which the object is located, the smaller the radiosity B(T) of the object, the longer the average wavelength of the light quantum radiated by the object, the slower the time on the object, and the longer the life of the system. When the object radiates energy outward, the higher the temperature of the object, the greater the object's radiosity B(T), the shorter the average wavelength of the light quantum radiated by the object, the faster the time on the object, and the shorter the life of the system. Applying the above conclusions about the nature of time, the author analyzes the Mpemba effect and the inverse Mpemba effect, and reaches the following conclusion: the Mpemba effect is the time effect produced when heat flows from objects into space, and the "inverse" Mpemba effect is the time effect produced when heat flows from space into objects.