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So in answer to your question, the oldest fossils are stromatolites, and the life forms that created those fossils were prokaryotic bacteria and algae like cyanobacteria.
fossil (latin for  obtained by digging ) is the preserved remains or traces of organisms (plants, animals, etc) that lived in the distant past.he oldest fossils in the fossil record date from 3.5 billion years ago, however it wasn't until around 600 million years ago that complex, multi-cellular life began was first preserved in the fossil record. There are two main types of fossils; body and trace.