A very simple example of what Canvas can be used for. In this example, Canvas object is used to copy 50x50 area of the image by moving to the mouse position, pasting the sprite and then moving back where it was, so it appears as if it never moved at all!
Very fast, my system clocks 1900~ FPS. Now I just need to figure out how to save the canvas content into a sprite...
Edit: Made in Construct 0.99.82.