This example is a short jazz comp which connects chords of the diatonic key using a walking bass line. Passing tones are used as a way to get from one chord idea to the root of the next. In standard jazz progressions, a pianist or guitarist will use an accompaniment such as this to allow other instruments to improvise over.
This example is a simplified version of a true jazz standard in which the comp would be much more complex to support the melodic range of the soloist. Rhythm is also very important if you are playing with other musicians. You must have the ability to not only stay in time, but respond to any changes that the improviser may throw at you.
For our purposes here, we will focus on connecting the chords in a fluid way to form the basis of extended comping.