The circuit is comprised of an ADC0804 ADC chip (middle), a 4116 resistor array (right), and an LED array (left). This circuit takes a simple sinusoidal input from a function generator and converts that analog signal into the digital binary you see on the LED array. The sinusoid is digitized into a binary representation, and what you see is the binary representation of each level of the sinusoid.
Multimeters Digital