1. A method for correcting image distortion during camera motion using a system including a processor and a camera having a rolling shutter, the method comprising: capturing a plurality of image frames by the camera equipped with the rolling shutter, wherein the captured image frames include a base image frame and a previous image frame; recording a plurality of time stamps respectively for a plurality of corresponding image points in the previous and base image frames; and for the corresponding image points, computing a plurality of ego-motions responsive to the time stamps of the corresponding image points of the base image frame and the previous image frame thereby correcting the image distortion caused by the rolling shutter.