The .17 Remington Fireball was created in 2007 by Remington Arms Company as a response to the popular wildcat round, the .17 Mach IV. Factory loads drive a 20 grain (1.3 g) bullet around 4,000 ft/s (1,219 m/s). Velocity is close to the .17 Remington but with significantly less powder, and therefore less heat and fouling. Both are important issues to high-volume shooters such as varmint hunters. It's based on the .221 Remington Fireball necked down to accept a .17 caliber bullet and is very similar to the .17 Mach IV. Reports on this cartridge show mild recoil, high velocity, with minimal report (noise).
The bullet known as the .17 Remington was created in 1970 and then introduced to the public in 1971 and as you may gather from the name it was designed by Remington. It's based off the .223 case cartridge and the goal was to create better long range bullet, and the .17 Remington fills that niche perfectly. It has a much flatter trajectory than the .223 being a smaller bullet in a similar sized case. The .17 Remington is an excellent varmint round, and the with a drop of just 3.17" at 250 yards this round is great for just that. More recent cartridges like the .17 HMR, and the .17 Fireball have been released in the last 10 years and have given other similar rounds some competition. All in all the .17 Remington gets the job done, and is a very practical and time tested round.