You're right, the amount of ETH staked on the Beacon Chain has indeed surpassed 35 million ETH, reaching an all-time high! This represents a significant portion of the total Ethereum supply, often cited as over 30%.

Here's a detailed breakdown of what that means and why it's important:

What is the Beacon Chain?

The Beacon Chain is the foundational layer of Ethereum's Proof-of-Stake (PoS) consensus mechanism. It was launched in December 2020 and runs parallel to the original Ethereum mainnet (which used Proof-of-Work, PoW, until The Merge). The Beacon Chain coordinates the network, manages staked ETH, and randomly assigns validators to propose and attest to blocks.

What is ETH Staking?

Staking involves users locking up their ETH as a "stake" to become validators on the Ethereum network. In return for securing the network and participating in consensus, validators earn rewards in ETH.

Key Details about ~35 Million ETH Staked:

* All-Time High: The recent surge to over 35 million ETH marks a new record for the amount of Ether locked in staking contracts.

* Significant Portion of Supply: This amount represents roughly 30% or more of the total circulating supply of Ethereum. This level of staking indicates strong confidence from holders in the long-term value and security of the network.

* Mechanism of Security: In a Proof-of-Stake system, the security of the network is directly tied to the amount of ETH staked. A higher amount of staked ETH makes it more economically infeasible for a malicious actor to attack the network, as they would need to acquire and stake a majority of the ETH to gain control.

* Validator Requirements: To become a solo validator, an individual needs to stake a minimum of 32 ETH. Due to the high cost of 32 ETH, many participants use liquid staking protocols (like Lido, Rocket Pool, etc.) or centralized exchanges, which allow users to stake smaller amounts and participate in a pooled validator.