How to Use and mount RAMFS / TMPFS in Centos, RHEL, Fedora, Ubuntu?

RAMFS / TMPFS is used to assign or allocate a part of physical memory to be used as a individual partition which can be used for storing data (Reading, Writing) like all other Disk partition on a system. As the data is stored in RAM (Random Access Memory) it is much faster than that of writing or reading from a System Physical disk Partition.