The idea of time as a physical quantity specifying the measure of movement leads to a model of ?blinking' particles; i.e., electrons, photons, etc., exhibiting continuous oscillation of a quantum of energy from one state to another. Such an approach explains relationships including: particle mass variation with speed, photon frequency variation velocity of radiator and the gravitational field, the origin of longitudinal and transverse Doppler effects, as well as the essence of Einstein's relation E = mc2. New derivations of expressions for the Doppler effect and the coefficient of light entrainment by substance are given. It is shown that Lorentz' transformations have a fictitious nature, and are the interrelated consequences of Doppler effects. Fundamentals of Special Relativity Theory (SRT) are criticized.
