This is a proportional reward system, based on the time a share was submitted. This process makes later shares worth a lot more than the earlier shares; these shares are scored by time, and the rewards that are to be given to individual miners are calculated based on the proportion of the scores and not the shares submitted in the system.
Apart from these, there are still new reward systems being proposed by mining pools and the community; systems such as ELIGUIS, Triplemining, and so on still exist and are being used by various developers.