Time Lapse Network Founder
It seems official: iOS 8 (coming this fall 2014) will have a native time lapse functionality!
A new mode comes to Camera: Time-lapse videos.
Capture the experience of the sun setting, a city street bustling, or a flower blooming with the new Time-lapse mode in Camera. iOS 8 does all the work, snapping photos at dynamically selected intervals. The result is a video showing an accelerated sequence of the photos over time. Just set up your device to shoot what you want. Swipe to select Time-lapse mode, tap the Record button, and let Camera record as long as you choose.