My proposal aims to address this challenge by reducing the data storage requirements without compromising security.
Your proposal is lacking the most essential bit of information: the amount of savings. If you can only save a few % of data storage, then the added complexity is not worth it.
Btw, are you aware of the Mimblewimble protocol? That allows forgetting almost all data of spent outputs, except for a ~100 byte kernel per transaction, with no impact on full verifiability.