To define intermittent fasting in layman's words, it is simply a technique to restrict your calorie intake. (It is extremely important however to understand that irrespective of the diet you follow nothing is ever beyond the universal balance of Calories-In vs Calories-Out).
During IF you have a fixed eating window which is generally from 4-8 hours. Rest, 16-20 hours one has to fast where you are only allowed to have either water or probably a cup of black coffee/green tea (without sugar).
Intermittent fasting is way more than a calorie slashing technique. Studies suggest that it does have a significant impact on the vital hormones, and this has shown various physiological benefits to the body.
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