Why is Loom only 5 minutes?

Could you elaborate on the reasoning behind Loom's duration of only 5 minutes? I understand that in the realm of cryptocurrency and finance, efficiency and scalability are paramount. However, does this brief duration have any specific advantages in terms of transaction speed, security, or user experience? I'm curious to know if this choice was influenced by technical limitations, market demand, or perhaps a strategic decision to differentiate Loom from other platforms. Clarifying this aspect would help us gain a deeper understanding of the design considerations behind Loom.