Archaebacteria are the oldest organisms on Earth. They are unicellular prokaryotes found in extreme environments like deep sea vents or volcanic areas. Archaebacteria are classified into five phyla including Euryarchaeota, which includes methanogens, and Crenarchaeota, which includes thermophiles found in marine environments. Archaebacteria are important for studying ancient Earth conditions, producing methane gas, and synthesizing thermophilic enzymes.