Cardano, a prominent blockchain platform, is preparing for a significant upgrade known as the Chang hard fork. This event, expected to occur in June, will mark a crucial milestone in Cardano's development, as it transitions from being governed by Input Output Global (IOG), its development firm, to a community-driven governance system.

According to Charles Hoskinson, Cardano's co-founder, the Chang hard fork will enable the platform to enter the Voltaire era, characterized by advanced blockchain governance, annual budgets, a treasury, and community-led decision-making. This shift is expected to make Cardano more decentralized and resilient.

The Cardano improvement proposal (CIP) 1694, implemented in the Voltaire era, will introduce a revised on-chain governance system, entrusting three direct governance bodies - a constitutional committee, delegated representatives (DReps), and stake pool operators (hSPOs) - with the responsibility of managing the Cardano chain.

While Cardano is poised for this significant upgrade, its native cryptocurrency, ADA, has been experiencing a downward trend, losing nearly 3% of its value on Tuesday. Despite this, the Relative Strength Index (RSI) indicates a potential oversold condition, suggesting a possible rebound.

The success of the Chang hard fork and the transition to community governance may positively impact ADA's price, potentially leading to a new all-time high. However, investors should exercise caution and conduct thorough research before making any investment decisions.

In the cryptocurrency market, Cardano's development and ADA's price movements are closely watched, as they have the potential to influence the broader market trends. As the blockchain ecosystem continues to evolve, Cardano's innovative approach to governance and community involvement may set a new standard for decentralized platforms.