Inthis talk, we first introduce a novel nanosize concept and a novel "nanotime" concept along with reviewing a series of novel phenomena and novel techniques related to nanosize effect and ultrafast process, which were recently discovered in our lab or were reported in the international journals.In these concepts, for the first time we are able account for the non equilibrium, amorphous, and nonlinear nature of the current nanoscience and nanotechnology.In particular, we demonstrate that the structure instabilities of materials occur when a material system is limited to a space within a scale that is comparable to atomic distance.