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What's with the completely useless thumbnail at the bottom?

That said, the technological explanation sounds simple and solid. Why aren't cameras doing that already?

I wondered the same; it takes two hyperlinks to get to the project's home page where they have a larger version. http://web.media.mit.edu/~hangzhao/modulo.html

Nice, thank you!

Note that this is a simulated example, not one actually taken with a modulo camera (if such a thing has been built yet).