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544 million years ago was the Proterozoic era. This was before visible life on the planet. This long ago the inhabitants wouldn't necessarily leave a fossil. If there is a lack of fossil evidence after this that means there was a mass extinction in this part of the world, and nothing survived to have children to leave fossils. Eventually another species will migrate in but until that happens there would be no fossil evidence.

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Q: When there is a significant lack of fossil evidence in the Earth's rock beds from a specific time period after 544 million years ago what do scientists believe has taken place?
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