I am working on a mechanism to enforce contracts that would require a lot of code, data, or computation. Practically all the computation would be done offline, yet would be enforceable in the network. Getting practically unlimited computation capability for relatively very little resources in the network would come at the cost of enforcement requiring multiple transactions, participation from the parties to agree on an outcome (returned value) or resolve a dispute, and thus significantly more time to confirm, especially in the case of a dispute. (If you are interested in a number, the number of transaction would be approximately log2(n)+2 or possibly log4(n)+2 or log8(n)+2, n being the number of instruction in the VM, which is not to be confused with the EVM).
That would allow contracts to economically go as far as taking the hash of a block of a external block-chain and two addresses to verify that a transaction of a given amount was indeed processed by the other network and have at least n confirmations, even though it is computationally expensive and requires access to a lot of data.
Does any such mechanism already exist? What do you think about the concept? Anyone thought about such a thing before?
I want to know whether it is worth to draft a paper or if there is already a project to contribute to.