An anti-lock braking system (ABS) is designed to prevent wheel lock-up during hard braking, enhancing vehicle control and stability. It consists of components such as wheel speed sensors, an electronic control unit, and a hydraulic modulator that work together to modulate brake pressure and maintain maximum wheel grip. While ABS improves safety and may reduce stopping distances in certain conditions, it does not increase the vehicle's traction limits or allow for faster driving or later braking.