Peace officers and police officers are basically the same and some countries call police officers peace officers.
A peace officer has the same powers as a police officer does and can write ticket, make arrests, serve search warrants, make traffic stops etc.
Peace Officer refers to any employee of a state, county, or a municipality, a sheriff or other public law enforcement agency, whose duties include arrests, searches and seizures, execution of criminal and civil warrants, and is responsible for the prevention or detection of crime or for the enforcement of laws.
Some places call them peace officers and others call them police officers.
But a peace officer can do exactly what a police officer can do.