peace vs conciliation

peace and conciliation both are nouns.

Word	Noun	Adjective	Verb	Adverb
peace	Yes	No	No	No
conciliation	Yes	No	No	No

As nouns, conciliation is a hyponym of peace; that is, conciliation is a word with a more specific, narrower meaning than peace:

peace: the state prevailing during the absence of war
conciliation: the state of manifesting goodwill and cooperation after being reconciled

Other hyponyms of peace include amity, armistice, cease-fire, truce, collective security, Pax Romana.

peace (noun)	conciliation (noun)
a treaty to cease hostilities	the act of placating and overcoming distrust and animosity
the absence of mental stress or anxiety	any of various forms of mediation whereby disputes may be settled short of arbitration
the state prevailing during the absence of war	the state of manifesting goodwill and cooperation after being reconciled
harmonious relations; freedom from disputes
the general security of public places