I have installed iOS 8 beta 3 into a iPhone 4s. The default camera now supports taking time-lapse videos. Taking time-lapse video in camera is very simple because you do not have any options… It takes a frame every second in my experience.
Below is dawn of Tai Wai, Hong Kong. I took it from my bedside counter,
Another one I took when I was driving,
It is better to take time-lapse video during busy traffic and day time. Time-lapse video with driving in highway at night makes a dizzy video and you can hardly to see anything. Below is a failed example,