1)
The universe bounces and expansion begins again. One problem is that, every time the universe contracts to a crunch, the density and temperature of the universe rises to an infinite value, and it is not clear if the usual laws of physics can be applied. Second, every cycle of expansion and contraction creates entropy through natural thermodynamic processes, which adds to the entropy from earlier cycles. So, at the beginning of a new cycle, there is higher entropy density than the cycle before. It turns out that the duration of a cycle is sensitive to the entropy density. If the entropy increases, the duration of the cycle increases as well. So, going forward in time, each cycle becomes longer than the one before. The problem is that, extrapolating back in time, the cycles become shorter until, after a finite time, they shrink to zero duration. The problem of avoiding a beginning has not been solved. It has simply been pushed back a finite number of cycles. If we're going to reintroduce the idea of a truly cyclic universe, these two problems must be overcome. The cyclic model that I will describe uses new ideas to do just that.
2)
At the same time that the universe is made homogeneous and isotropic, it is also being made flat. If the universe had any warp or curvature to it, or if you think about the universe stretching over this long period of time, although it's a slow process it makes the space extremely flat. If it continued forever, of course, that would be the end of the story. But in this scenario, just like inflation, the dark energy only survives for a finite period, and triggers a series of events that eventually lead to a transformation of energy from gravity into new energy and radiation that will then start a new period of expansion of the universe. From a local observer's point of view, it looks like the universe goes through exact cycles; that is to say, it looks like the universe empties out each round, and a new matter and radiation is created, leading a new period of expansion. In this sense it's a cyclic universe. If you were a global observer and could see the entire universe, you'd discover that our three dimensions are forever infinite in this story. What's happened is that at each stage, when we create matter and radiation, it gets thinned out. It's out there somewhere, but it's getting thinned out. Locally, it looks like the universe is cyclic, but globally the universe has a steady evolution, a well-defined era in which, over time and throughout our three dimensions, entropy increases from cycle to cycle.

"It is not the end... but it is, perhaps, the beginning of the end" W. Churchill