I will try to explain both in simple words, Cloudfare and Ray ID.
Cloudfare:
This is a service sitting in front of servers tasked with the ability to handle requests and allow response depending upon multiple security parameters. The service provides website security, performance optimization and DDoS protection. The service mimics a reverse proxy.
When a request is sent to Cloudfare, it initially hits one of the edge servers (Content Delivery Network) strategically placed across the continent. This helps to fetch cached data at a rapid pace without the need to traverse to the origin server to fetch the content.
Ray ID:
Ray ID is a unique identifier generated by Cloudflare's edge servers, and is included in the response headers of each request processed by these edge servers and is used to help identify specific requests when troubleshooting issues. Other than issues, it helps to track the request, request specifier, topo location and auditing becomes easier.
Hope, it clears the doubt
The CF-Ray header is a hashed value encoding information about the data center and the visitor’s request
See support.cloudflare.com/hc/en-us/articles/… – Vandiver