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Why is there a limit of 70 million unique ARK strings?

In the README you mention:

docker-arknoid/README.md

Lines 22 to 23 in 8e368ac

You can mint over 70 million on one minter, and make as many minters as
you want whenever you want. Your ARKs will be unique across all minters.

Why is 70 million the limit? Where in the code does that limit exist? And is 70M an arbitrary hard-coded limit or is there some other reason you can't do more? And is the number of minters actually unlimited or is there some other hard limit to be aware of, as well?

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