Quantum fluctuation of unstable modes about gravitational instantons causes the instability of flat space at finite temperature, leading to the spontaneous process of nucleating quantum black holes. The energy-density of quantum black holes, depending on the initial temperature, gives the cosmological term, which naturally accounts for the inflationary phase of Early Universe. The reheating phase is attributed to the Hawking radiation and annihilation of these quantum black holes. Then, the radiation energy-density dominates over the energy-density of quantum black holes, the Universe started the Standard cosmology phase.In this phase the energy-density of quantum black holes depends on the reheating temperature. It asymptotically approaches to the cosmological constant in matter domination phase, consistently with current observations.