Today, Instagram launched a new time lapse video application. Hyperlapse will allow users to make high quality time lapse videos, even if the recording is made while moving quickly. 

Here's a sample of how Hyperlapse works:

Unlike Instagram, Hyperlapse doesn't require an account. As for video speed, you play back at up to twelve times normal speed, and then save the time lapse creation to your camera roll. From there, it can be uploaded to Instagram as usual. 

The stabilization feature is Hyperlapse's biggest accomplishment. Unlike the usual high-speed shaky recording, the video looks smooth. Business Insider compares the effect to that of "having $15,000 dollars worth of top shelf video equipment in the palm of your hand." 

The app is currently only available for iOS. Here's the stabilization feature in action: