The Hebrew word is the familiar s halom , which refers to the whole of one's life. The Greek word eirene is translated as the tranquil state of a soul assured of its salvation through Christ, and so fearing nothing from God and content with its earthly lot, whatsoever it may be. It signifies abundance, good health and neighborliness. But this peace is something only God can provide and Jesus is the one who brings it. Holiness is a word which we don't hear much these days.
Some translations use the word sanctification.
The Christian life should be different from the life of this world. Set apart for service, not for privilege. It means our aim is different, our ideals are different, and our rewards are different. First, it has to do with a life that is separated from profane things and dedicated to God. In an age that has dismissed morality with a wave of the hand, this call to holiness is a stern and good word for you and me.