While time-lapse introduces unwatchable shaking to Go-Pro and other body cameras camera footage – this new “hyperlapse” algorithm makes footage so smooth it’s phenomenal to see.

They present a method for converting first-person videos, for example, captured with a helmet camera during activities such as rock climbing or bicycling, into hyperlapse videos: time-lapse videos with a smoothly moving camera.

For a more technical explanation of their system watch this video:

Check out their project page for more details:
http://research.microsoft.com/hyperlapse