Further explanation:
More information can be found at
http://research.microsoft.com/en-us/um/redmond/projects/hyperlapse/
Hyperlapse
Hyperlapse or moving time-lapse (also stop-motion time-lapse, walklapse, spacelapse) is a technique in time-lapse photography for creating motion shots. In its simplest form, a hyperlapse is achieved by moving the camera a short distance between each shot. The first film using the hyperlapse technique dates to 1995.
Definition from Wikipedia – Hyperlapse