To summarize all of the other answers–we don’t really know. We don’t really know if time even really exists. We think it does, but there are some scientists the believe that it’s just an illusion and does actually exist, even if they aren’t a majority.
There are lots of ideas, many of which equally make sense with the evidence, but nothing really solid. All we have are guesses and a few basic things that we can prove that still don’t answer either of your questions.
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