Class of Service (CoS) in Junos OS provides tools for managing traffic congestion and ensuring that latency-sensitive traffic is given priority over less time-critical data. By implementing CoS, network administrators can classify traffic into different priority levels, apply scheduling policies to ensure that high-priority traffic is transmitted first, and use congestion management techniques such as queue buffers and drop profiles. This helps in maintaining the quality of service for critical applications, especially during periods of high network congestion. However, CoS does not eliminate congestion entirely nor does it inherently make the network faster; it provides a mechanism for better managing and controlling traffic flows according to their importance and time sensitivity.