The technique you are talking about, used for Wolfenstein 3D in the '92, is more commonly called "ray-casting." You cast one ray per screen X (or fewer) and see what object it hits, and then draw a slice of that object. https://en.wikipedia.org/wiki/Ray_casting

Ray tracing as used here means simulating light rays bouncing off of objects - it's a high fidelity technique generally not used in games in the past, because it is so slow. https://en.wikipedia.org/wiki/Ray_tracing_(graphics)